Exciting Moves in the ASX Market: Vanadium and Tech Stocks Making Headlines

September 16, 2024 08:29 PM AEST | By Team Kalkine Media

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Exciting Moves in the ASX Market: Vanadium and Tech Stocks Making Headlines — Image source: shutterstock

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The Australian Securities Exchange (ASX) has seen some noteworthy developments recently, particularly with stocks involved in vanadium and innovative technology. Here’s a look at the latest advancements and market reactions.

Vanadium Resources (ASX:VR8) and Australian Vanadium (ASX:AVL)

Vanadium Resources has made headlines with its strategic partnership with China Energy International Group (CEIG). This collaboration focuses on the engineering, construction, and financing of the Steelpoortdrift vanadium project in South Africa, which boasts a significant resource of 76.8 million tonnes at 0.72% vanadium. The project will also feature a solar plant, enhancing its sustainability. This deal positions VR8 for substantial growth, with further value-added opportunities in the energy sector anticipated as the company progresses towards a financial investment decision in Q3 next year.

Simultaneously, Australian Vanadium has successfully deployed its vanadium electrolyte technology in a vanadium flow battery (VFB) for Horizon Power in Western Australia. The installation, with a capacity of 220 kilowatt-hours and up to 78 kilowatts of power, is undergoing acceptance testing at Horizon’s Kununurra site. The progress is a positive indicator for AVL’s future in energy storage, with shares climbing over 7% recently.

Neometals (ASX:NMT)

Neometals has achieved a significant milestone with its 88%-owned subsidiary, Recycling Industries Scandinavia (RISAB), securing an agreement with EIT RawMaterials. This agreement includes $829,000 in grant funding to advance the VRP1 vanadium recovery project in Finland. EIT RawMaterials will also become a minority shareholder in RISAB, with an option to invest up to €10 million. The project is expected to benefit from additional investment grants and tax credits, enhancing its economic viability. Neometals shares have surged by 11.6% recently, reflecting the positive market sentiment.

Mithril Silver and Gold (ASX:MTH)

Mithril Silver and Gold has experienced a notable boost following the use of LiDAR technology to uncover a range of historical mine workings at its Copalquin gold-silver district in Mexico. The discovery of seven new historical mine shafts, 93 tunnels, and 198 pits has opened up several new target areas for exploration. The company’s share price has jumped 44% recently, with an impressive 90% increase over the past week. This surge comes amid rising silver prices, which have reached US$31 per ounce.

Lepidico (ASX:LPD)

Lepidico has received significant recognition for its Trelavour hard rock project in Cornwall, UK, which has been designated as a Nationally Significant Infrastructure Project (NSIP). This designation highlights the importance of Lepidico’s proprietary lithium processing technologies. The project aims to produce battery-grade lithium hydroxide more sustainably than conventional methods, with commercial production expected in 2026. Following this endorsement, Lepidico shares have soared by 50%, trading at 0.3 cents.

These developments illustrate the dynamic nature of the ASX market and the ongoing innovations across various sectors. Each company’s recent progress reflects their potential to influence their respective industries and provide significant opportunities for investors.

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