Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Currie Rose Resources ( (TSE:VLX) ) has shared an announcement.
Velox Energy Materials Inc., an energy materials developer listed on the TSX Venture Exchange, is advancing the vanadium- and molybdenum-rich NQV Project in Queensland while pursuing low-cost development strategies for shallow, high-grade resources. The company also owns Kotai Energy and has an option over solid-state hydrogen storage IP from Curtin University, aiming to commercialise technology for transporting hydrogen as an inert powder.
The company has announced a proposed non-brokered private placement of up to 89,296,272 units at $0.035 per unit, to raise as much as $3.13 million for project evaluation, due diligence, corporate costs and general working capital. Each unit comprises one common share and a warrant exercisable at $0.05 for 24 months, with potential finder’s fees and participation by a director structured to comply with Canadian securities rules, subject to TSX Venture Exchange approval and standard hold periods.
More about Currie Rose Resources
Velox Energy Materials Inc. is a publicly traded energy materials company focused on developing high-value assets in resource- and research-friendly jurisdictions. Its flagship NQV Project in Queensland, Australia, hosts the Cambridge Deposit with significant vanadium and molybdenum resources, and the company is targeting shallow, high-grade mineralisation amenable to low-cost mining and processing options.
Velox also owns Kotai Energy and holds an option to acquire full intellectual property rights to a solid-state hydrogen storage technology from Curtin University in Western Australia. Kotai is working to commercialise technology that enables transport of hydrogen as an inert powder, which can later be converted into high-pressure hydrogen for end-use applications.
Average Trading Volume: 94,743
Technical Sentiment Signal: Sell
Current Market Cap: C$3.13M
For a thorough assessment of VLX stock, go to TipRanks’ Stock Analysis page.