The share acquisition increases his overall position to 11.26 million shares and further aligns him with shareholders.
READ: Australian Vanadium’s pre-feasibility study confirms robust economics for Gabanintha vanadium deposit
During mid-late December 2018, AVL released its maiden ore reserve and final pre-feasibility study (PFS) on its Gabanintha Vanadium Project in Western Australia.
The PFS estimated an ungeared post-tax net present value (NPV) ranging between US$125 million and US$1.41 billion, depending on the vanadium pricing assumption used.
Positive outcomes and strong vanadium market fundamentals support immediate progression to a definitive feasibility study (DFS).
Further drilling for pilot study is scheduled to commence January 2019.