Critical opportunity: Vanadium project set for ASX listing
Gold Coast based Critical Minerals will list on the ASX next week bringing another clean energy stock to life.
The intelliHR board has dropped its support for Humanforce (AAP Image/Joel Carrett)
The company raised $5 million in its initial public offering at 20 cents a share to fund the exploration of the Lindfield vanadium project, near Julia Creek in north west Queensland.
Julia Creek is recognised as rich pickings for vanadium which is used in grid-scale batteries for applications like wind farms. Multicom is developing the St Elmo project near Julia Creek and QEM’s project in the area has the world’s largest vanadium resource. Richmond Vanadium Technology also has a $240 million project in the approval process.
Critical Minerals managing director Scott Drelincourt said he was keen to start executing the company’s strategy to drill, assess and develop Lindfield.
“The rising standard of living of a growing population is likely to continue to drive demand for Critical Minerals for years to come,” he said.
He said the company planned to enter strategic partnerships to drive revenue.
“We will focus in carbon neutral processes, including solar, hydrogen and vanadium redox batteries,” he said.
