Hardey to complete vanadium asset acquisitions

By Megan Graham. Published at Aug 27, 2018, in Small Caps

Concluding an Extraordinary General Meeting held today, Hardey Resources Limited’s (ASX:HDY) Board has announced that it has received shareholder approval for the acquisition of 100% of the issued capital of Nelly Vanadium Pty Ltd (NVPL) and Vanadium Mining Pty Ltd (VanMin).

NPVL owns the highly prospective Nelly Vanadium Mine (NVM) in San Luis province, Argentina, while VanMin has six high-quality vanadium projects across Queensland and Northern Territory.

The company’s geology team is already in Argentina progressing the application to reactivate the mining licence for Nelly Vanadium Mine and studying the process to monetise the legacy stockpiles to generate near-term cashflow.

In Australia, the focus for the Queensland and Northern Territory projects is to utilise historic data, if possible, to model JORC (2012) compliant inferred vanadium pentoxide resources.

The Exploration Targets reported herein are not JORC compliant Mineral Resources. The potential quantity and grade of the Exploration Targets are conceptual in nature, there has been insufficient exploration to determine a Mineral Resource and there is no certainty that further exploration work will result in the determination of a Mineral Resource.

Confirmation that the acquisitions have been finalised followed an announcement last week in which Hardey presented its geology team’s preliminary due diligence findings on two highly prospective vanadium projects in the Northern Territory, part of a package of six projects the company has acquired from VanMin.

Potential investors should note that HDY is still in early stage exploration mode and therefore any decision with regards to adding this stock to your portfolio should be taken with caution and professional financial advice sought.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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