RVT - Richmond Vanadium Technology

[System]

Richmond Vanadium Technology is an Australian minerals exploration company focused on advancing its Richmond Vanadium Project in North Queensland. The Company owns 100% of the Richmond Vanadium Project following Horizon Minerals Ltd (HRZ) completing a restructure of its 25% interest in the Project.

The Richmond Vanadium Project is one of the largest undeveloped oxide vanadium resources in the world with a Mineral Resource (JORC 2012) of 1.8Bt @ 0.36% for 6.7Mt V2O5. The Queensland Government declared the Richmond Vanadium Project to be a Coordinated Project in May 2022.

Richmond Vanadium Technology has completed a Pre-Feasibility Study at the 1.8Bt Richmond Vanadium Project, which demonstrated a technically viable and financially attractive development project. The Project has a completed process flowsheet using conventional techniques with a provisional patent application lodged with IP Australia covering the method for the concentration of vanadium.

Funds raised from the IPO will primarily be used to deliver the Bankable Feasibility Study for the Richmond Vanadium Project, in addition to ongoing operating costs; investment in Ultra Power Systems Pty Ltd (UPS), general administration and working capital.

It is anticipated that RVT will list on the ASX during December 2022.

Richmond Vanadium Technology - Home

richmondvanadium.com.au

 

[Dona Ferentes]

Listing date	07 December 2022 ; 1:00 PM AEDT ##
Company contact details	https://richmondvanadium.com.au/ Ph: (08) 6141 9500
Principal Activities	Mineral exploration
GICS industry group	TBA
Issue Price	AUD0.40
Issue Type	Ordinary Fully Paid Shares
Security code	RVT
Capital to be Raised	$35,000,000
Expected offer close date	14 November 2022
Underwriter	Not underwritten. Bell Potter Securities Limited (Lead Manager)

 

[finicky]

Hesitated about drawing any attention to this. I have a few shares distributed from the Horizon Minerals (HRZ) spin-off - about which I'll mention at this point that those shares are still in escrow till Dec 2024 along with a lot of other shares and options.

Major vanadium deal inked in Queensland

A complete vanadium flow battery manufacturing supply chain is set to be built in Townsville, Queensland through a new agreement signed by three companies.

www.australianmining.com.au

So while this is not the company described in the article I note the vanadium and battery reference as well as the location. They make this company and RVT close cousins. So RVT is past its PFS and I think BFS is anticipated late 2025 but don't quote me. Some sort of jv with a big manufacturer would obviously be ideal.
It might be this 'similarity' that is causing a bit more interest in the RVT chart? Never that much volume though.

Another cautionary note is the M.D Jon Price, who presided over the historical trajectory of Horizon Minerals (HRZ) and smoothly transitioned from HRZ to RVT as an inaugural director thence quickly to M.D.
I took a heavy tax loss in HRZ last year, which I deserved after raving about the company here. But thankfully Jon made it through his long stewardship intact and was recognised with an appropriate salary at HRZ matching his qualifications and leadership. I say "cautionary" above - it's just to say that yesterday's achievement can be no guarantee of tomorrow's success.

Held

WEEKLY

From Horizon Minerals FY22 Annual Report

 

[craigj]

Interesting company with a vanadium project in Queensland
Currently no vanadium mines exist in Australia yet it is recognized as a critical mineral.
Vanadium is used for battery energy storage systems.
A different battery play as it is for energy storage

 

[divs4ever]

Interesting company with a vanadium project in Queensland
Currently no vanadium mines exist in Australia yet it is recognized as a critical mineral.
Vanadium is used for battery energy storage systems.
A different battery play as it is for energy storage

i might be wrong but AVL has been messing with vanadium ( in Australia ) for a few years ( and battery storage )

i hold neither share

but good luck in the comp.

 

[craigj]

i might be wrong but AVL has been messing with vanadium ( in Australia ) for a few years ( and battery storage )

i hold neither share

but good luck in the comp.

Thanks for the info

 

[divs4ever]

i have been following AVL without buying into it and will add this to my watchlist as well

i know lithium batteries are popular , but are they the solution for every need

( i am also deeply underwater with the RFX holding , so am careful investing in battery tech now )

cheers

 

[craigj]

RVT made a good move over the last month

Has entered into a collaboration agreement. Whatever that is ?

Vanadium is considered a critical mineral so that may continue the interest in the sector

 

[finicky]

@craigj
I wouldn't read anything into it. Looks like it's only trading by landline up to lunchtime on alternate week days. Last week only about 250,000 shares traded - for the whole week.

The M.D of this company is an avoid - he was carving well over a half million salary package out of RVT's parent company, Horizon Minerals (HRZ), which was just a struggling cash starved little gold explorer.

I will probably get out of RVT as soon as the escrowed shares are allowed to be sold. The large amount of escrowed shares that went to HRZ shareholders in the spin off is something of which to be wary, coz a lot will be dumped.

Held