Resources Top 5: ASX battery and base metals explorers take off
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Enerox designs, develops, manufactures, sells, installs, operates and maintains battery storage projects globally under the brand name CellCube.
This MOU or “Memorandum of Understanding” is a non-binding agreement that generally comes before a legally binding document.
AVL and Enerox aim to establish a binding offtake agreement for vanadium products from the planned Australian Vanadium project in WA, while Australian VRFB sales will also be supported by development of a vanadium electrolyte blending facility by AVL.
In addition to the MOU, AVL subsidiary VSUN Energy has signed a reseller agreement with Enerox for supply and installation of CellCube products and services in Australia.
Also jumping in early trade was fellow battery metals play Infinity Lithium (ASX:INF), which announced a $2.2m raise yesterday to advance the San José lithium project in Spain.
Cyprium Metals (ASX:CYM) has been granted all-important mining leases for the Cue copper project in WA.
It also includes the recently acquired project Nanadie Well, which has mineral resources and other high priority drill ready targets to be included in the upcoming Cue project scoping study.
Mayur Resources (ASX:MRL), meanwhile, plans to list its Papua New Guinea copper and gold assets on the TSX Ventures Exchange via a reverse takeover.
Zinc of Ireland (ASX:ZMI) now controls about 2,500sqkm of the Rathdowney trend in Ireland – “arguably one of the most prospective exploration land packages for high-grade, large tonnage, zinc/lead deposits in the world”.
Rathdowney hosts the previously mined Lisheen and Galmoy deposits, as well as the company’s Kildare deposit (11.3 million tonnes at 9 per cent zinc and lead) and a number of other prospects.
Advanced drill targeting is underway, the company says.