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Richmond Vanadium Technology Pty Ltd. ( (AU:RVT) ) has shared an update.
Richmond Vanadium Technology Limited announced strategic changes due to low vanadium prices, including slowing certain project activities to conserve cash while continuing work on a VFB demonstration plant and a new processing pathway. The company is also undergoing board changes to reduce costs, with key directors stepping down but remaining in advisory roles. Additionally, RVT has terminated its agreement with Ultra Power Systems Limited to streamline capital structures.
More about Richmond Vanadium Technology Pty Ltd.
Richmond Vanadium Technology Limited operates in the vanadium industry, focusing on the development of the Richmond-Julia Creek Vanadium Project in Queensland, Australia. The company is involved in producing vanadium flow batteries (VFBs) and aims to enhance local adoption of these batteries for energy storage solutions.
Average Trading Volume: 46,935
Technical Sentiment Signal: Sell
Current Market Cap: A$24.1M
For an in-depth examination of RVT stock, go to TipRanks’ Overview page.