WKN: | A2PV3A |
ISIN: | AU0000066086 |
Land: | Australien |
Branche: | Versorgung, Umwelt und Infrastruktur |
Sektor: | Energie |
aktueller Kurs: |
3,74 EUR
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Veränderung: |
0,00 EUR
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Veränderung in %: |
0,00 %
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EQS-News: Vulcan Energy Resources Limited
/ Key word(s): Quarterly / Interim Statement
Quarterly Activities Report for the period ending 30 September 2024 During the period ending 30 September 2024 (the Quarter), Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) achieved significant progress to further advance Phase One of its integrated renewable energy and ZERO CARBON LITHIUM™ Project (the Project), designated “Lionheart”.
Highlights from the Quarter
Highlights of subsequent events
Managing Director and CEO, Cris Moreno, commented: “The Q3 reporting period continued the momentum Vulcan has built over the course of the year to date, and we are pleased with ongoing progress. The start of commissioning at our downstream optimisation plant was a particular highlight during the period as this signifies Vulcan being one step closer to producing Europe’s first fully domestically produced lithium hydroxide. We are anticipating a strong end to calendar year 2024, with a number of pivotal commercial and operational developments underway, including related to Phase One financing, and look forward to updating the market and our shareholders in due course.”
Health and safety
Integrated renewable energy and lithium production
Figure 1 Thermal energy storage system installed at Vulcan’s Natürlich Insheim geothermal renewable energy plant for the
Lithium Extraction Optimisation Plant (LEOP)
Figure 2 A-DLE unit at Vulcan's downstream lithium optimisation plant.
Central Lithium Electrolysis Optimisation Plant (CLEOP)
Geox acquisition
Figure 3 Geox geothermal power plant in the City of Landau.
Commercial and financing Evolution of Board
Appointment of Natixis CIB as coordinator for first green-enabling financing
€10 million credit facility
French licencing approval
Environmental, Social and Governance (ESG) Updating of Environmental and Social Impact Assessment (ESIA)
Site visits from political representatives
Figure 4 Left to right: Vanessa Rehn, Director of Investment and Trade Western Australia; Felicity Gooding , Group Chief Financial Officer, Vulcan Energy; Rebecca Brown; Director General, Department of Jobs, Tourism, Science and Innovation (JTSI) ; Simone Spencer, Deputy Director General, Strategy and International Engagement, JTSI; Alisza Rott, Business Development Manager, Invest and Trade Western Australia; Annabel Roedhammer, Vice President Communications, Vulcan Energy; Romain Maniaval, Commissioning Manager, Vulcan Energy.
Additional ASX Disclosure Information ASX Listing Rule 5.3.1: Exploration and Evaluation expenditure during the Quarter was €3.4 million. Expenditure related to the developed in-house sorbent, planning for the upcoming project execution and interpretation costs. Interpretation costs include capitalised costs from Vulcan Energy Subsurface (VES) and Vulcan Energie Ressourcen GmbH staff costs where time was allocated to Vulcan licence areas.
ASX Listing Rule 5.3.2: Development expenditure during the Quarter was €10.0 million. Expenditure predominately related to Schleidberg wellsite preparation (€2.3m), refurbishment costs for Vulcan’s two electric drill rigs (€1.9 million), construction of the Central Lithium Electrolysis Optimisation Plant (€1.4 million), and EU funded project GEOSMART focusing on geothermal extraction and purification of brine (€1.0m). ASX Listing Rule 5.3.3: During the Quarter, the Kachelhoffa geothermal and Kachelhoffa mineral lithium exploration licences were granted; no licences were relinquished. ASX Listing Rule 5.3.5: Payments to related parties of the Company and their associates during the Quarter per section 6.1 of the Appendix 5B amounted to €238,000. This is comprised of an allocation of the Managing Director remuneration of €56,000, Executive Chair remuneration of €102,000 and Non-Executive Director fees of €80,000. Payments to related parties of the Company and their associates during the quarter per section 6.2 of Appendix 5B total €45,000. This amount is an allocation of the Managing Director’s remuneration for work done on exploration activities associated with the Vulcan ZERO CARBON LITHIUM™ Project. Please see the Remuneration Report in the 2023 Annual Report for further details on Directors’ Remuneration.
Mineral resources and ore reserves Vulcan’s integrated renewable energy and ZERO CARBON LITHIUM™ Project Lithium (Li) brine Mineral Resource estimates, as well as Mineral Reserve estimates, did not change during the Quarter.
Daniel Tydde | Company Secretary
Media Australia: Judith Buchan, Communications Lead APAC | [email protected] | +61 411 597 326
International: Annabel Roedhammer, Vice President Communications | [email protected] | +49 (0) 1511 410 1585 Please contact Vulcan’s Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on [email protected].
About Vulcan Founded in 2018, Vulcan’s unique ZERO CARBON LITHIUM™[3] Project (the Project) aims to decarbonise lithium production, through developing the world’s first carbon neutral lithium business, with the co-production of renewable geothermal energy on a mass scale. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan aims to deliver a local source of sustainable lithium for Europe, built around a carbon neutral strategy with exclusion of fossil fuels from the process to produce lithium. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities. Vulcan’s combined geothermal energy and lithium resource is estimated to be the largest in Europe on a lithium carbonate equivalent (LCE) basis[4], with licence areas focused on the Upper Rhine Valley, Germany and France. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the ZERO CARBON LITHIUM™ Project to target timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets. Guided by our Values of Climate Champion, Determined and Inspiring, and united by a passion for the environment and leveraging scientific solutions, Vulcan has a unique, world-leading scientific and commercial team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations that share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery, and automakers in the world. Vulcan aims to leverage its multidisciplinary expert team, leading geothermal technology and position in the European EV supply chain to be a global leader in producing carbon neutral lithium. Vulcan aims to be the supplier of choice for premium lithium chemicals and renewable power and heating from Europe, for Europe; to empower a carbon neutral future.
Disclaimer Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Vulcan operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Vulcan’s control. Vulcan does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Vulcan, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement. This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Vulcan. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision. Vulcan has carried out a definitive feasibility study (“DFS”) and bridging engineering study (“Bridging Study”) for Phase One of its Zero Carbon Lithium™ Project (“Project”), the results of which were announced to the ASX in the announcements "Zero Carbon Lithium Project Phase 1 DFS Results" dated 13 February 2023 (“DFS Announcement”) and “Positive Zero Carbon Lithium™ Project Bridging Study Results” on 16 November 2023 (“Bridging Study Announcement”). This announcement may include certain information relating to the DFS and the Bridging Study. The DFS and Bridging Study are based on the material assumptions and parameters outlined in their respective announcements. While Vulcan considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Bridging Study or DFS will be achieved. This presentation may also include certain information relating to Phase 2 of its Project, Vulcan has not yet carried out a definitive feasibility study for Phase Two of its Project.
Competent Person Statement The information in this announcement that relates to estimates of Mineral Resources and Ore Reserves is extracted from the Bridging Study Announcement which is available to view on Vulcan's website at www.v-er.eu. Vulcan confirms, that in respect of the estimates of Mineral Resources and Ore Reserves included in this announcement:
[1] Please see ASX announcement dated 27 September 2024 for further information relating to this licence [2] Please see ASX announcement dated 27 September 2024 for further information relating to this licence [3] Please see page 13 of the 2023 Sustainability Report for how we define ZERO CARBON LITHIUMTM [4] According to public, JORC-compliant data. See Appendix 4 of Vulcan's announcement "Managing Director’s 2023 AGM Presentation” dated 29 May 2023 for comparison information.
25.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Vulcan Energy Resources Limited |
Level 2,267 St. Georges Terrace | |
6000 Perth | |
Australia | |
E-mail: | [email protected] |
Internet: | www.v-er.eu |
ISIN: | AU0000066086 |
WKN: | A2PV3A |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2016455 |
End of News | EQS News Service |
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2016455 25.10.2024 CET/CEST
Quelle: DGAP