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Australian Vanadium to raise A$3.3m

Explorer and developer Australian Vanadium Ltd (AVL), formerly known as Yellow Rock Resources, has launched a rights issue to raise up to A$3.32 million (US$2.4 million) at $0.013 per share, with one free attaching option for every new share issued. The issue is partially underwritten by CPS Capital to $500,000.

Australian Vanadium to raise A$3.3m Australian Vanadium to raise A$3.3m Australian Vanadium to raise A$3.3m Australian Vanadium to raise A$3.3m Australian Vanadium to raise A$3.3m

Prospecting for vanadium in Western Australia

The rights price represented a discount of 22% to the five day volume weighted average price of $0.016. Attaching options have an exercise price of $0.02 and expiry date of December 31, 2018.

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