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Vulcan Energy Resources Ltd. ( (AU:VUL) ) just unveiled an announcement.
Vulcan Energy has successfully closed its Share Purchase Plan (SPP), raising approximately A$8 million through the issuance of 1,366,332 new fully paid ordinary shares. This follows a previous institutional and strategic placement that raised A$164 million. The newly issued shares under the SPP are set to begin trading on 29 January 2025. This capital raising effort is part of Vulcan’s strategy to expand its sustainable lithium production capabilities, positioning itself as a key player in the European electric vehicle battery market, by leveraging its significant lithium resources and proprietary technology.
More about Vulcan Energy Resources Ltd.
Vulcan Energy (ASX: VUL, FSE: VUL) is a pioneering company establishing the world’s first carbon-neutral, integrated lithium and renewable energy business to support the decarbonization of battery production. The company focuses on the Lionheart Project, located in the Upper Rhine Valley Brine Field at the border of Germany and France, which is the largest lithium resource in Europe. Vulcan uses its proprietary technology, VULSORB®, to produce sustainable lithium for European electric vehicle batteries.
YTD Price Performance: 4.67%
Average Trading Volume: 969,351
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$1.21B
For a thorough assessment of VUL stock, go to TipRanks’ Stock Analysis page.
