Vanadium Resources Limited (ASX:VR8) has appointed HCF International Advisors Ltd as its principal debt advisor.
The ASX-listed company is nearing the completion of ongoing Definitive Feasibility Study (DFS) on its flagship Steelpoortdrift Vanadium Project. The company, which expects to wrap up the DFS by September 2022, believes that it is an appropriate time to fast-track the business by moving towards the project financing stage.
It is important to mention that the Steelpoortdrift Project is one of the highest grade and largest vanadium deposits in the world, with a resource of 612Mt @ 0.78% V2O5.
The DFS study is being carried out with a focus on mining activity to support the initial production of 12,500tpa of V2O5 flake at an estimated CAPEX of US$200 million.
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