Mining.com.au

Albright Metals (ASX:ABR) has sold its mineral rights for the Australian Vanadium Project at Gabanintha in Western Australia to Australian Vanadium (ASX:AVL), terminating a 2017 sale agreement.

The 2017 mineral rights sale agreement provided Albright with the rights to explore for secondary minerals at the project except for vanadium, uranium, cobalt, chromium, titanium, lithium, tantalum, manganese, and iron ore. Under the new agreement, all rights and interests rest with Australian Vanadium.

Under the terms of the transaction, Albright Metals will receive a total consideration of $1.75 million, comprising $500,000 in cash and $1.25 million in shares of Australian Vanadium. The shares will be issued at a price based on the 20-day volume-weighted average price of Australian Vanadium shares traded on the ASX.

Link to full article: https://mining.com.au/albright-sells-gabanintha-mineral-rights-to-australian-vanadium/