AVL Funded For DFS Completion

AUSTRALIAN Vanadium has successfully raised A$6.6 million to advance its namesake Australian Vanadium project at Gabanintha in Western Australia, with the cash to support finalisation of its definitive feasibility study and take the project to a final investment decision.

August’s share purchase plan, underwritten by Patersons Securities to the tune of $3.5 million, was issued at a 19% discount to the volume-weighted average share price, at 1.15c.