Total
0
Shares
Australian Vanadium (ASX:AVL) - Managing Director, Vincent Algar - The Market Herald
Managing Director, Vincent Algar
Source: The West Australian
  • Australian Vanadium (AVL) and GSA Environmental have teamed up to evaluate low-cost vanadium feedstocks for AVL's namesake project
  • GSAe is a U.K.-based engineering consultancy with experience in extracting vanadium, nickel and other metals from waste products
  • Currently, waste material is being disposed of in landfill which means extraction will not only be economically-viable, but environmentally friendly as well
  • The agreement has a two-year term with an option to extend if the parties mutually agree
  • Company shares have dropped 3.85 per cent for 1.3 cents

Australian Vanadium (AVL) has signed a memorandum of understanding (MOU) with GSA Environmental (GSAe) to develop the Australian Vanadium Project in WA.

GSAe is a U.K.-based engineering consultancy with front end engineering design (FEED), project management and process safety consultancy capabilities.

GSAe also holds unique intellectual property for extracting vanadium, nickel and other metals from various hydrocarbon, mining and industrial waste products.

Together, the companies will collaborate to evaluate low-cost vanadium feedstocks that could potentially improve the economics of AVL's namesake project and its planned processing facility.

Vanadium and other metals are contained in different wastes such as fly ash which comes from crude oil. Currently, this material is being disposed of in landfill sites globally. Therefore, not only will extracting the material from the waste be economically positive, it will also have a positive impact on the environment.

"Teaming up the vanadium processing expertise in AVL with GSAe’s unique clean environment and metal extraction skills will allow us to deliver further improvements and positive investor outcomes for AVL shareholders and other stakeholders," AVL Managing Director Vincent Algar said.

The MOU has an initial two-year term with an option to extend if the parties mutually agree.

AVL is significantly progressing its pre-feasibility study and is hoping its bankable feasibility study will be completed by mid-2021.

Company shares have dropped 3.85 per cent for 1.3 cents at 1:36 pm AEDT.


Subscribe


AVL by the numbers
More From The Market Herald
BCI Minerals (ASX:BCI) - Managing Director, Alwyn Vorster - The Market Herald

" BCI Minerals (ASX:BCI) enters access agreement with Pastoral Management

BCI Minerals (BCI) has entered an access agreement with Pastoral Management.
Galaxy Resources (ASX:GXY) - Executive Director, Anthony Hse - The Market Herald

" Galaxy Resources (ASX:GXY) raises $124M for lithium projects

Galaxy Resources (GXY) has completed a placement and institutional entitlement offer, raising $124 million.
Lake Resources (ASX:LKE) - Managing Director, Steve Promnitz - The Market Herald

" Lake Resources (ASX:LKE) sends first lithium samples for testing with Novonix (ASX:NVX)

The first samples of Lake Resources’ (LKE) high-purity lithium carbonate are on their way to Canada to be tested in Novonix (NVX) battery
Pure Minerals (ASX:PM1) - Managing Director, John Downie - The Market Herald

" Pure Minerals (ASX:PM1) signs MoU with Samsung SDI

Pure Minerals (PM1) was up as much as 24.3 per cent today after entering a memorandum of understanding (MoU) with battery manufacturer Samsun…