Vulcan Energy Begins Drilling for Phase One of Lionheart Project

The latest announcement is out from Vulcan Energy Resources Ltd. ( (AU:VUL) ).

Vulcan Energy Resources Ltd. has commenced drilling the first new well for its Phase One Lionheart geothermal energy-lithium project in Germany, marking a significant step in expanding its renewable energy and lithium production capabilities. This development is part of a broader plan to establish a sustainable European lithium supply chain, with the project aiming to produce 24,000 tonnes per annum of lithium hydroxide monohydrate for electric vehicle batteries, alongside renewable heating and power production, thereby reinforcing Vulcan’s industry positioning and commitment to sustainability.

The most recent analyst rating on (AU:VUL) stock is a Buy with a A$11.50 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.

More about Vulcan Energy Resources Ltd.

Vulcan Energy Resources Ltd. is pioneering the development of a carbon-neutral, integrated lithium and renewable energy business aimed at decarbonizing battery production. The company’s Lionheart Project, located in the Upper Rhine Valley Brine Field on the border of Germany and France, is recognized as the largest lithium resource in Europe and a globally significant lithium project. Vulcan utilizes its proprietary VULSORB® technology to extract lithium from sub-surface brines, providing a sustainable and low-cost lithium source for European electric vehicle batteries.

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Technical Sentiment Signal: Sell

Current Market Cap: A$933.4M

For a thorough assessment of VUL stock, go to TipRanks’ Stock Analysis page.