Annuncio • May 04
Vanadium Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. Vanadium Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 41,500,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,500,000
Price\Range: AUD 0.02
Discount Per Security: AUD 0.0012
Transaction Features: Subsequent Direct Listing New Risk • Mar 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.7m (US$9.73m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.3m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$56k revenue, or US$40k). Market cap is less than US$10m (AU$13.7m market cap, or US$9.73m). New Risk • Mar 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.3m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$56k revenue, or US$39k). Minor Risk Market cap is less than US$100m (AU$15.0m market cap, or US$10.5m). New Risk • Feb 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$14.4m market cap, or US$10.0m). New Risk • Dec 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.0m (US$9.96m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.0m market cap, or US$9.96m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Annuncio • Oct 10
Vanadium Resources Limited, Annual General Meeting, Nov 27, 2025 Vanadium Resources Limited, Annual General Meeting, Nov 27, 2025. New Risk • Sep 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 2.3% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$18.7m market cap, or US$12.4m). Recent Insider Transactions Derivative • Aug 01
Independent Non-Executive Director exercised options to buy AU$90k worth of stock. On the 30th of July, Michael Davy exercised options to buy 3m shares at a strike price of around AU$0.028, costing a total of AU$78k. This transaction amounted to 17% of their direct individual holding at the time of the trade. Since September 2024, Michael has owned 16.72m shares directly. This was the only transaction from an insider over the last 12 months. Annuncio • Jul 25
Vanadium Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.2 million. Vanadium Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 36,363,636
Price\Range: AUD 0.033
Discount Per Security: AUD 0.00198
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Jun 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 2.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$12.4m market cap, or US$8.11m). New Risk • Mar 07
New major risk - Revenue and earnings growth Earnings have declined by 2.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$12.9m market cap, or US$8.19m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Annuncio • Feb 13
Vanadium Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1667. Vanadium Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1667.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,666,667
Price\Range: AUD 0.001
Transaction Features: Subsequent Direct Listing New Risk • Jan 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.6m (US$9.07m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.8m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.6m market cap, or US$9.07m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Nov 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.6m (US$9.54m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.8m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.6m market cap, or US$9.54m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Annuncio • Oct 08
Vanadium Resources Limited, Annual General Meeting, Nov 28, 2024 Vanadium Resources Limited, Annual General Meeting, Nov 28, 2024. New Risk • May 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$26.3m market cap, or US$17.4m). Annuncio • Apr 28
Vanadium Resources Limited, Annual General Meeting, May 29, 2024 Vanadium Resources Limited, Annual General Meeting, May 29, 2024, at 15:00 W. Australia Standard Time. Location: 108 Outram Street, West Perth, 6005 West Perth Australia Agenda: To consider issue of performance rights to John Ciganek; to consider issue of performance rights to Jurie Wessels; to consider issue of performance rights to Michael Davy. Annuncio • Nov 17
Vanadium Resources Limited (ASX:VR8) completed the acquisition of SPD Vanadium Project from Math-Pin Trust. Vanadium Resources Limited (ASX:VR8) executed conditional sale and option agreements to acquire 4.59% stake in SPD Vanadium Project from Math-Pin Trust for ZAR 0.003 million on May 3, 2023. As per terms, Vanadium Resources will pay a combination of cash consideration of ZAR 2,930 and 8,092,810 Share Options in VR8, in return for 293 shares in VanRes. Math-Pin has the right to exercise their Share Options within 30 days, which will then convert into New VR8 fully paid ordinary shares and will represent a 1.60% relevant interest in VR8 based on the current issued shares of VR8. In related transaction, Vanadium Resources executed conditional sale and option agreements to acquire unknown minority stake in SPD Vanadium Project from Obeec (Pty) Ltd for ZAR 0.006 million. Collectively, the Vendors hold a 12.54% interest in SPD Vanadium Project. On completion of the acquisition, VR8 will increase its interest in SPD Vanadium Project to 86.49% and the Steelpoortdrift Development Trust will hold an interest of 13.51% of SPD Vanadium Project. The combined interest of the Transactions represents a total interest in VR8 of 4.37% based on the current issued shares of VR8. VR8, in its discretion, confirming that it is satisfied with the ownership position of VanRes once the respective acquisitions have been implemented; Voluntary Restriction Deeds having been executed between VR8 the Vendors providing for 12-month escrow and block trade provisions in relation to VR8 shares acquired in terms of the Share and Option Agreements; consent and waiver notices being received with respect to rights and obligations in terms of an existing shareholders’ agreement prevalent to VanRes; to the extent required, approval of the transaction and transfer of the VanRes Shares held by the Vendor to VR8 by the South African Reserve Bank (SARB); and to the extent required, the Minister of Mineral Resources and Energy of the Republic of South Africa consenting in writing, either unconditionally or on terms and conditions acceptable to VR8. The conditions are to be satisfied or waived by no later than 23 October 2023. VR8 has the right to waive fulfilment of all conditions, except for the approval by the SARB.Vanadium Resources Limited (ASX:VR8) completed the acquisition of SPD Vanadium Project from Math-Pin Trust on November 15, 2023. Annuncio • Oct 20
Vanadium Resources Limited (ASX:VR8) completed the acquisition of 7.95% stake in SPD Vanadium Project from Obeec (Pty) Ltd. Vanadium Resources Limited (ASX:VR8) executed conditional sale and option agreements to acquire 7.95% stake in SPD Vanadium Project from Obeec (Pty) Ltd for ZAR 0.006 million on May 3, 2023. As per terms, Vanadium Resources will pay a combination of cash consideration of ZAR 5,800 and 14,031,220 Share Options in VR8, in return for 508 shares in SPD Vanadium Project. Obeec has the right to exercise their Share Options within 30 days, which will then convert into New VR8 fully paid ordinary shares and will represent a 2.77% interest in VR8 based on the current issued shares of VR8. In related transaction, Vanadium Resources executed conditional sale and option agreements to acquire 4.59% stake in SPD Vanadium Project from Obeec (Pty) Ltd for ZAR 0.003 million. Collectively, the Vendors hold a 12.54% interest in SPD Vanadium Project. On completion of the acquisition, VR8 will increase its interest in SPD Vanadium Project to 86.49% and the Steelpoortdrift Development Trust will hold an interest of 13.51% of SPD Vanadium Project. The combined interest of the Transactions represents a total interest in VR8 of 4.37% based on the current issued shares of VR8. VR8, in its discretion, confirming that it is satisfied with the ownership position of VanRes once the respective acquisitions have been implemented; Voluntary Restriction Deeds having been executed between VR8 the Vendors providing for 12-month escrow and block trade provisions in relation to VR8 shares acquired in terms of the Share and Option Agreements; consent and waiver notices being received with respect to rights and obligations in terms of an existing shareholders’ agreement prevalent to VanRes; to the extent required, approval of the transaction and transfer of the VanRes Shares held by the Vendor to VR8 by the South African Reserve Bank (SARB); and to the extent required, the Minister of Mineral Resources and Energy of the Republic of South Africa consenting in writing, either unconditionally or on terms and conditions acceptable to VR8. The conditions are to be satisfied or waived by no later than 23 October 2023. VR8 has the right to waive fulfilment of all conditions, except for the approval by the SARB.
Vanadium Resources Limited (ASX:VR8) completed the acquisition of 7.95% stake in SPD Vanadium Project from Obeec (Pty) Ltd on October 19, 2023. All conditions precedent of the sale and option agreement with Obeec (Pty) Ltd has satisfied. VR8 now holds an 81.90% interest in VanRes, Math-pin 4.59% and the Steelpoortdrift Development Trust holds a 13.51% interest. Annuncio • Oct 02
Vanadium Resources Limited, Annual General Meeting, Nov 14, 2023 Vanadium Resources Limited, Annual General Meeting, Nov 14, 2023. Agenda: To consider re-election of certain directors. Annuncio • Aug 23
Vanadium Resources Limited Appoints Tim Feather as Chief Financial Officer Vanadium Resources Limited announced that it has appointed highly experienced financier Tim Feather as Chief Financial Officer. Mr. Feather has over 25 years of experience in corporate finance. Following a law degree at the University of Nottingham, he qualified as a chartered accountant with Deloitte in the UK. In 1995 he moved into corporate finance in the City of London by joining Brown Shipley before leaving to co-found Westhouse Securities, where he was head of corporate finance and specialised in advising and fundraising for mining and oil and gas companies. He joined WH Ireland in 2012 and continued to focus on the resource sector. In 2019, he joined the Sumner Group, a privately held group with interests in mining, healthcare and defence, where he was Business Development Director. He is a non-executive director of Orcadian Energy plc, a North Sea oil development company. Mr. Feather joins VR8's experienced management team, who have been responsible for completing a DFS over the Steelpoortdrift Vanadium Project, that demonstrated outstanding project economics including a post-tax NPV of US$1.2 billion (A$1.9 billion), with robust margins, rapid payback of 27 months and strong IRR of 42% post tax¹. The Company is in the process of transitioning into a mid-tier mining company through the development of its world-class Steelpoortdrift Vanadium Project, located in the world- renowned Bushveld Complex in South Africa. The Company is planning a number of further appointments in the coming months, as it builds out its team to transition the Steelpoortdrift and Tweefontein projects into the next global vanadium producer. Annuncio • May 27
Vanadium Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 5.914018 million. Vanadium Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 5.914018 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 53,763,800
Price\Range: AUD 0.11
Transaction Features: Subsequent Direct Listing Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Michael Davy was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Oct 07
Vanadium Resources Limited, Annual General Meeting, Nov 29, 2022 Vanadium Resources Limited, Annual General Meeting, Nov 29, 2022. Recent Insider Transactions • Sep 07
Insider recently sold AU$347k worth of stock On the 1st of September, Nicolaas Phillipus Van Der Hoven sold around 5m shares on-market at roughly AU$0.076 per share. This transaction amounted to 82% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth AU$493k. Insiders have been net sellers, collectively disposing of AU$1.1m more than they bought in the last 12 months. Recent Insider Transactions • Aug 05
Insider recently sold AU$493k worth of stock On the 1st of August, Nicolaas Phillipus Van Der Hoven sold around 5m shares on-market at roughly AU$0.11 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$295k more than they bought in the last 12 months. Annuncio • Jun 22
Vanadium Resources Limited Announces That Test Work Results Confirm Superior Grade and Recoveries VANADIUM RESOURCES LTD announced that company is developing its Tier 1 Steelpoortdrift Vanadium project in Limpopo, South Africa. VR8 is currently conducting a Definitive Feasibility Study ("DFS") to undertake mining operations and to construct a concentrator and salt roast plant, potentially capable of initially producing 12,500tpa of V2O5 flake at an estimated capex of USD 200M1. The Company announced an update on the Bulk Sampling and Pilot plant test campaign conducted in pursuance of the DFS. VR8 announced the progress of an Association for the Advancement of Cost Engineering Class 2 DFS for the Steelpoortdrift Vanadium project located in Limpopo, South Africa. The DFS is a natural progression of the Pre-Feasibility Study ("PFS") recently completed2 with the aim to produce a high purity (>98% V2O5) vanadium product from primary Run of Mine (ROM) mineralized material. As part of the DFS, a trial mining and bulk sampling campaign was initiated, with the aim to extract fresh (unweathered) mineralized material for the purpose of pilot plant metallurgical test campaigns. As announced previously on the 24th March 20223, no blasting was required during the collection of the bulk sample due to fresh unweathered mineralized material being intersected 2-3m from surface, being considerably shallower than originally anticipated. The trial mining was completed with a total of approximately 40 tons of mineralised material extracted, of which approximately 15 tons was classified as fresh high-grade material from the LMZ (Lower Magnetite Zone) mineralized zone. This material was sent to Multotec Minerals Processing R&D facility located in Johannesburg South Africa for concentrator pilot plant test campaigns (refer to photo 1 below) with the purpose of producing magnetite concentrate for downstream Salt Roast and Leach (SRL) test work. Multotec is a leading global equipment supply company with specific experience in magnetic and gravity separation processes. The concentrate produced from the three stage Low Intensity Magnetic Separation circuit was dewatered and sent to MINTEK South Africa, a leading minerals technology development facility, for further processing through a SRL pilot circuit to final flake product. This circuit included: Roasting of concentrate in the presence of Sodium Salts for 4 hours at 1200 degrees Celsius; Water Leach of roasted material; Desilification circuit; and Ammonium Meta-Vanadate precipitation. Of particular significance is that the Silica content of the magnetically separated concentrate was measured to be between 1.1-1.3%, which significantly improves downstream processing efficiencies as well as reduce reagent consumption. Additional test work has subsequently been commissioned to investigate low-cost opportunities for processing the residue material to recover Ilmenite concentrates. The DFS continues to remain on time and within budget at present. Board Change • Apr 27
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Chairman Jurie Wessels is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Annuncio • Apr 09
Vanadium Resources Limited Announces Board Changes The Board of Vanadium Resources Limited advised that Mr. van der Hoven, Non-Executive Director, will retire from the Board and Company subsidiary Vanadium Resources (Pty) Ltd. as of 08 April 2022. Further the Company wishes to formerly advise the transition of Mr. Jurie Wessels from Non- Executive Chairman to Executive Chairman of the Company. Annuncio • Mar 07
Vanadium Resources Ltd Updates on Its Definitive Feasibility Study over the Steelpoortdrift Vanadium Project VANADIUM RESOURCES LTD provided an update on its Definitive Feasibility Study ("DFS") over the Steelpoortdrift Vanadium Project and reportedc that trial mining for the collection of a bulk sample has commenced. VR8 is developing its tier 1 Steelpoortdrift Vanadium project in Limpopo, South Africa. VR8 is currently conducting a DFS to undertake mining operations and to construct a concentrator and salt roast plant, potentially capable of initially producing 12,500tpa of V2O5 flake at an estimated capex of USD 200 million. VR8 announced the progress of an Association for the Advancement of Cost Engineering class 3 DFS for the Steelpoortdrift Vanadium project located in Limpopo, South Africa. The DFS is a natural progression of the Pre-Feasibility Study ("PFS") recently completed with the aim of producing a high purity (>98% V2O5) vanadium product from primary Run-of-Mine mineralised material. As part of the DFS, a trial mining and bulk sampling campaign was initiated with the aim to extract fresh (unweathered) mineralised material from the project for the purposes of pilot plant metallurgical test campaigns. As limited information was available on the oxidation state of the mineralised zones near surface (less than 6m from surface), the trial pit design was based on extracting the bulk sample from a depth of 10m, to ensure fresh unweathered ore is sampled. During pit preparation the main high grade mineralized zone (LMZ1A) was exposed at surface. Fresh unweathered mineralised zones were exposed from a depth of 2-3m below surface, which was considerably shallower than originally anticipated and has resulted in no requirement to blast. The significance of the above outcomes is: The weathered portion of the orebody has been found to be significantly lesser than anticipated, High grade Run-of-Mine plant feed material can be exposed and mined close to surface, which will minimize upfront mine establishment requirements, and. Bulk sampling could be undertaken by mechanical means eliminating the requirement for blasting during the bulk sampling campaign. Bulk sampling is expected to be completed during March 2022 with pilot plant test work to commence from April 2022. GEOTECHNICAL DRILLING PROGRESS: The Company's contractors have commenced with the geotechnical drilling on site. The geotechnical drilling will investigate the mechanical strength and properties of material down to approximately 70m below surface to provide data for mine design of the pit shells and benching prior to construction. The DFS continues to remain on time and within budget at present. Annuncio • Jan 19
Vanadium Resources Limited (ASX:VR8) completed the acquisition of 73.95% stake in SPD Vanadium Project. Tando Resources Limited (ASX:TNO) signed a heads of agreement to acquire 73.95% stake in SPD Vanadium Project for AUD 16.5 million on March 22, 2018. Tando Resources Limited entered into formal agreement to acquire 73.95% stake in SPD Vanadium Project for AUD 16.5 million on July 18, 2018. As a part of the agreement, Tando Resources Limited would issue 35 million shares as consideration. These shares are subject to shareholder approval and payable when the project reaches certain stages. 4.25 million shares would be paid at the time of completion of due diligence, 7.5 million shares at delineation of a Measured Resource of at least 75Mt, 4.25 million shares at the completion of scoping study, 8 million shares at the completion of pre-feasibility study and the remaining 11 million shares would be paid at the completion of the feasibility study. In a related transaction, Tando Resources proposes to raise AUD 2 million through share placement.
On and from the acquisition of an initial interest in Vanadium Project, Tando Resources will have the right to manage the project and appoint a majority of directors to the Board. As part of the proposed transaction, Martin Pawlitschek will join the Board of Tando Resources as a Non-Executive Director. Deal is subject to completion of due diligence, Tando Resources receiving shareholder approval for the acquisition and a waiver of the ASX Listing Rules to enable it to issue the consideration shares outside of a 3 month period following receipt of shareholder approval; the vendors receiving South African Reserve Bank Exchange Control approval; and the vendors receiving a formal waiver of any pre-emptive rights from the shareholders of SPD Vanadium Project other than the vendors. As of July 18, 2018, South African legal and regulatory advice was received during due diligence process. As of July 27, 2018, the due diligence process completed. The transaction was approved by the Tando Resources shareholders in the general meeting held on August 20, 2018. As of August 27, 2018, South African Reserve Bank approved the transaction and now transaction becomes unconditional. The transaction is expected to complete very shortly following shareholder approval. As of July 27, 2018, transaction is expected to complete in late August 2018. As of August 20, 2018, the transaction is expected to close in late August or early September 2018. As of August 27, 2018, it is anticipated that completion will occur imminently. As of September 27, 2018, Tando Resources Limited completed the acquisition for 50% and the consolidated entity has met a series of milestones comprising the establishment of a JORC-compliant Measured Resource and the completion of a Scoping Study . As of June 30, 2020, the acquisition for balance 23.95% stake is subject to ministerial approval by the South African Department of Mineral Resources. Completion of the acquisition is anticipated to occur in September 2018.
Vanadium Resources Limited (ASX:VR8) completed the acquisition of 73.95% stake in SPD Vanadium Project on January 19, 2022. Tando has received approval from the South African Government to receive transfer of an interest of 23.95% in the Project, thereby increasing VR8’s interest in the SPD Vanadium Project to 73.95%. Recent Insider Transactions • Dec 19
Insider recently bought AU$142k worth of stock On the 14th of December, Faldi Ismail bought around 2m shares on-market at roughly AU$0.069 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$198k more in shares than they have sold in the last 12 months. Annuncio • Nov 24
Vanadium Resources Limited Provides Update on ESG Technology Initial Metallurgical Test Work Results Vanadium Resources Limited provided the additional information in relation to the company. Initial Metallurgical Test Work Results: The aim of the metallurgical testwork program is to confirm parameters for the techncological development of a two-stage process for extraction of Vanadium, Iron and other value metals using concentrates produced and obtained from the Steelpoortdrift Project in South Africa or other sources if applicable. Current development of the Steelpoortdrift project will continue on the basis of the Salt Roast process as reported previously (Steelpoortdrift PFS delivers superior results) whilst the ESG techncology is being developed separately. The first stage of the process involves selective extraction and separation of Iron and Vanadium. The second stage of the process involves extraction of other value metals, including Titanium and Aluminium, and to maximize the extraction of Iron and Vanadium. A series of tests were conducted over a range of temperature and reductant concentration conditions for the first and second stage of the process to empirically derive the optimal parameters. Residues from the Stage 1 process were processed at the near optimal Stage 2 extraction parameters selected from the results obtained from Stage 1 in test BL-A. Variable temperatures were not tested during this test. This demonstrates that high extraction yields for Titanium (97.8%) can be achieved. Additionally, the Stage 2 process is able to recover the remaining Iron and Vanadium; as well as Aluminium (40% extracted). The overall extraction yields for the combined Stage 1 and Stage 2 processes are above 99% for Iron, Vanadium and Titanium. Recent Insider Transactions • Aug 20
Insider recently bought AU$56k worth of stock On the 17th of August, Faldi Ismail bought around 1m shares on-market at roughly AU$0.056 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$203k more in shares than they have sold in the last 12 months. Annuncio • Jul 20
Vanadium Resources Announces Completion of the Maiden Ore Reserve for the Steelpoortdrift Project Vanadium Resources announced that it has completed the maiden Ore Reserve for the Steelpoortdrift project with key elements being: Total project Ore Reserve of 73.85Mt at an average grade of 0.75% V2O5 giving total contained V2O5 of 560kt; Of the total Ore Reserve 31.17Mt is in the Proven category with balance in the Probable category; and the High-Grade portion of the Ore Reserve totals 40.25Mt at an average grade of 0.96% V2O5. DFS study to commence second half of 2021 will aim to improve on maiden Ore Reserve statement with an updated statement to be released on completion of DFS. Based on the completed Pre-Feasibility Study, the company commissioned Sound Mining to complete an Ore Reserve statement for the Steelpoortdrift project. The Ore Reserve was prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code), 2012 Edition guidelines. The SPD Project is being developed as a fully integrated mineral beneficiation project in which Run-of-Mine (RoM) production from designated surface mining areas will supply a site located Concentrator Plant producing a vanadium pentoxide (V2O5) concentrate. This concentrate will be road hauled to an off-site Salt Roast Leach (SRL) Plant to produce a final dry flake product at >98% V2O5. The SPD Project is located on the farm Steelpoort 365KT which is approximately 30km south-west of the town of Steelpoort, Limpopo Province. The SPD Project area is situated within the Sekhukhune District Municipality in the Greater Tubatse Local Municipality, which is one of the five local municipalities falling under the Sekhukhune District Municipality (SDM). The economic assessment completed as part of the Ore Reserve statement confirm viability of the Ore Reserves as depleted by the mine planning and reveals operating margins of 29% (at a flake sales price of $6.00/lb) at steady state operations. The CP is aware that there are areas of uncertainty associated with the cashflow forecasts but considers the impact of these to be immaterial with regard to the overall economics. The DCF is based on a production forecast of 25 years and the Mineral Resource is not fully depleted. Annuncio • Jun 23
Vanadium Resources Limited Announces the Completion of an Association for the Advancement of Cost Engineering ("AACE") Class 4 Pre-Feasibility Study Vanadium Resources Limited announced the completion of an Association for the Advancement of Cost Engineering ("AACE") class 4 Pre-Feasibility Study ("PFS") for the Steelpoortdrift Vanadium project located in Limpopo, South Africa. The PFS was completed with the aim to produce a high purity (>98% V2O5) vanadium product from primary Run Of Mine ("ROM") mineralised material. The Steelpoortdrift Vanadium Project ("Steelpoortdrift Vanadium Project" or "SPD Project") with a mining authorisation based on published Mineral Resources. Vanadium mineralisation is hosted in a titaniferous magnetite unit in the upper portion of the prolific Bushveld Geological Complex. The Company has the right to acquire 73.95% of the Project through acquisition of interest in Vanadium Resources (Pty) Ltd. (VanRes). The project PFS was completed on the basis that each contributing subject matter expert company, developed standalone PFS compliant reports for their respective subsections as defined above. These individual reports were then combined into an overall project PFS, with the individual detailed reports included as appendices and financial evaluation done based on the outcomes of these individually supplied reports. It should be noted that as is industry best practice, the PFS was developed on a total project basis and did not take into consideration shareholding or ownership in the project. Annuncio • Jun 02
Vanadium Resources Limited Nears Completion of PFS on Steelpoortdrift project Vanadium Resources Limited was tracking within budget and time for completion of the PFS. The Company anticipated release of the final report to the market by the end of May 2021. The Company is in the final process of finalising an internal review of the study report including its assessment of the financial metrics of the PFS study results. The Company expects to announce the results of the PFS shortly. Annuncio • Apr 03
Vanadium Resources Limited announced that it expects to receive AUD 2 million in funding Vanadium Resources Limited (ASX:VR8) announced a private placement of 41,666,667 shares at a price of AUD 0.048 per share for gross proceeds of AUD 2,000,000 on April 1, 2021. Annuncio • Jan 22
Vanadium Resources Limited Announces Commencement of Pre-Feasibility Study Towards the Production of High- Purity V2O5 The Board of Vanadium Resources Limited advised that the company has assembled a team of experts and experienced contributors to commence with and complete a pre-feasibility study towards the production of high- purity V2O5, utilising conventional salt roast technology from concentrate produced at the Steelpoortdrift Vanadium Project in South Africa. Mr. Nel, who was recently appointed as CEO, is experienced as a metallurgical and process engineer in the operations, management, design and optimisation of mineral beneficiation plants globally. Messrs Nel, Ford and Wilson were part of the team that completed the scoping study recently finalised by the Company, which confirmed globally competitive opex and capex metrics at the project, including that salt roast-leach processing is technically and financially viable from concentrate produced at Steelpoortdrift. The scoping study results released on 23 September 2020 established that the Steelpoortdrift project at the then current vanadium prices exhibit significant potential for the following: a NPV8% value of up to US$401M, robust returns (pre-tax EBITDA of up to US$1 900M), a resilience to low price environments (average cash operating costs as low as $3.07/lb V2O5), competitive capex (up to USD 187 million) and an attractive payback and IRR (between 2-3 years payback and IRR of up to 45% assuming a 50:50 debt/equity). Current day demand for vanadium arises from its established use in strengthening steel via various alloys. Consumption is currently increasing with the recent implementation of stricter standards on the strength of steel to be used in construction (specifically rebar). The use of vanadium in steel making accounts for over 90% of current vanadium demand in today's market. The most commonly traded vanadium product is 98% V2O5 flake, as it can be used directly in steel making or converted to ferrovanadium for additional uses in steel making. Higher purity vanadium products are either produced by a modern plant (such as being planned by VR8) or are further processed from 98% V2O5 flake for speciality uses in chemical industries, energy storage and high performance alloying technologies. Such speciality uses are expected to provide additional longer term demand for vanadium. Vanadium redox flow battery (VRFB) technology was developed in Australia and has a number of advantages in industrial and small town sized energy storage requirements. The global move towards renewable energy solutions will require a vast increase in energy storage installations, which in turn is forecast to result in an increase in the amount of VRFBs being manufactured and installed around the world. Another emerging use of vanadium is in high-performance light weight alloys. Supply of such alloys is increasing in the aerospace industry, with aeroplanes such as the Boeing Dreamliner 787 and the Airbus A350 now incorporating up to 100 tons of vanadium per aircraft. This month 98% V2O5 flake product continues to trade around $7.00/lb ($15,420/tonne; Fastmarkets Metal Bulletin). Trade remains quiet globally with supply of product largely restored and buyers having re stocked in recent weeks, with any excess material being sold on Chinese markets due to higher prices versus European buyers. Recent Insider Transactions • Dec 16
Insider recently bought AU$147k worth of stock On the 9th of December, Faldi Ismail bought around 6m shares on-market at roughly AU$0.026 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$178k more in shares than they have sold in the last 12 months. Annuncio • Aug 27
Vanadium Resources Limited announced that it has received AUD 0.5 million in funding Vanadium Resources Limited (ASX:VR8) announced that it has entered into an agreement for private placement of unsecured convertible loan facility for gross proceeds of AUD 500,000 on August 27, 2020. The transaction included participation from directors for AUD 350,000 and shareholders for AUD 150,000. The loan is either to be repaid or, subject to the receipt of prior shareholder approval, converted into stock. The loan bears a fixed interest rate of 10% per annum, payable in cash if the loan is repaid in cash, or shares if the loan is repaid in shares.