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Vulcan Energy Resources LimitedVV

Vulcan Energy Resources Limited

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VUL:ASX - VULCAN ENERGY - Zero Carbon Lithium and Tesla DirectorLate play in the day. VUL popped up on a higher than normal volume and price scan. I had a bit of a read of their latest announcement and looked interesting. They are making a strong play for the battery metals market in Europe with zero carbon lithium as their differentiator. Have an ex Tesla director in their employ to help broker deals. Bolly looks to have compressed after a period of price consolidation building a base. RSI and Volume both look like they might be ready to head up. Could be worth a look. From their release: 20/10/2020 About Vulcan Vulcan Energy Resources is aiming to become the world’s first Zero Carbon Lithium™ producer, by producing a battery-quality lithium hydroxide chemical product with net zero carbon footprint from its combined geothermal and lithium resource, which is Europe’s largest lithium resource, in the Upper Rhine Valley of Germany. Vulcan will use its unique Zero Carbon Lithium™ process to produce both renewable geothermal energy, and lithium hydroxide, from the same deep brine source. In doing so, it will fix lithium’s current problems for the EU market: a very high carbon and water footprint of production, and total reliance on imports, mostly from China. Vulcan aims to supply the lithium-ion battery and electric vehicle market in Europe, which is the fastest growing in the world. Vulcan has a resource which can satisfy Europe’s needs for the electric vehicle transition, from a zero-carbon source, for many years to come. Recent activities by the Company (v-er.com): • Appointment of former Tesla director Jochen Rudat to Business Development team. • Taro license grant and increased global Mineral Resource Estimate. • Appointment of lithium industry expert Vincent Pedailles to Business Development team. • Appointment of lithium chemistry expert Dr. Katharina Gerber to the Executive team. • Excellent recoveries of over 90% from lithium extraction test work on Upper Rhine Valley brine. • Securing EU backing support package, and EU-backed investment agreement into the Vulcan Zero Carbon Lithium™ project. • $4.8m institutional and ESG investor equity placement. • Agreement to acquire 3D seismic package to accelerate project development. Commencement of lithium test work for Pre-Feasibility Study. Completion of positive Scoping Study
ALong
by zAngus
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