Vincent Algar

Junior explorers Black Mountain Resources and Australian Vanadium have announced $3 million capital raisings, while gold-focused Crusader Resources is tapping investors for $6.5 million as part of its initial public offering on the London AIM.

West Perth-based Rolek Resources has launched a $5 million initial public offering, with the company planning a backdoor listing via Shaw River Manganese.

Improving market conditions have led to positive news for a number of local vanadium outfits.

West Perth-based Australian Vanadium has raised nearly $6.2 million from the recent exercising of approximately 204.6 million options.

Free to read: From resources projects to rooftops, the technological revolution under way in energy will have a lasting impact on Western Australia.

Australian Vanadium has raised $3.5 million in capital to advance its vanadium project near Meekatharra, while Volt Resources has raised $1.6 million to fund the development of its Bunyu graphite project in Tanzania.

Australian Vanadium has signed an option to build a vanadium processing plant at a site east of Geraldton, as it continues to work on a potential mining project.

Buru Energy said today it has maintained production at its Ungani oil project in the Kimberley but has joined other resources companies, including Australian Vanadium, in cutting salaries, directors fees and other spending to preserve cash during the COVID-19 pandemic.

NRW Holdings’ Primero Group has been contracted to build a lithium processing plant in the Northern Territory and a vanadium electrolyte manufacturing facility in Western Australia.

Shares in Australian Vanadium have jumped 17 per cent on the news its battery storage technology will be trialled by IGO.

Australian Vanadium is looking to institutional and sophisticated investors to raise cash for a proposed vanadium processing plant in the state’s Mid-West.