Australian Vanadium secures $6.1 million from option conversion


Date: Jan 11, 2019

The company is well-funded to completes its definitive feasibility study (DFS).

toy blocks that spell the word FUNDING

Shares were trading up 18% this morning to 2.6 cents

Australian Vanadium Ltd (ASX:AVL) has boosted its cash position to $9.68 million after $6.16 million worth of options expiring 31 December 2018 were exercised.

In addition to the 204.6 million options exercise, 62.75 million options were underwritten by Westar Capital Ltd at a value of $1.255 million.

Notably, AVL’s managing director Vincent Algar participated in the options exercise showing his belief in the company’s future.

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