Australian Vanadium says TMT merger unlocks scale and funding
Melbourne, Victoria
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September 28, 2023 01:00 PM Eastern Daylight Time
Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) CEO Graham Arvidson speaks with Proactive soon after the company and Technology Metals Australia Ltd (ASX:TMT) struck a deal to merge, in an agreement valued at $217 million which will see AVL acquire 100% of the TMT shares on issue. The companies see the merger as a logical consolidation of two adjoining projects across the Gabanintha orebody. As a result, the merged entity will become the leading Australian vanadium developer with a world-class asset of scale in Western Australia, a tier-one mining jurisdiction.
Arvidson said: “We are pleased with the strong support shown by RCF and other investors for the placement.
“Following the announced merger with TMT earlier this week, receiving this support is a positive endorsement of AVL’s strategy and team but also highlights the growing investor interest in the vanadium thematic which continues to benefit from the clean energy transition and ongoing electrification of energy supplies requiring storage solutions.
“The placement ensures that the combined group will be well-funded to progress its integration strategy between AVL and TMT as well as the go-forward development strategy, and we are excited by the future opportunities”.
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Proactive Investors
Jonathan Jackson
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