Vanadium Resources Ltd. (AU:VR8) has released an update.
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Vanadium Resources Ltd. is poised for growth, having secured non-binding offtake Memorandums of Understanding that exceed 100% of their Phase 1 vanadium production, a sign of robust demand. The company plans to produce two grades of vanadium to cater to the steel and burgeoning vanadium flow battery markets, with modifications already integrated into their front-end engineering design. Additionally, they are making strides in securing debt financing, with due diligence by a major European bank set to commence soon.
For further insights into AU:VR8 stock, check out TipRanks’ Stock Analysis page.