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PVW cashed up for ‘game changing’ REE campaign in the NT

19 May 2022
ASX: PVW
Jack Baker

PVW Resources has banked $9.5 million to begin drilling exploration for in-demand critical minerals and precious metals at the Tanami Heavy Rare Earths and Gold project in the heart of the world-class Tanami minerals province in Australia’s Northern Territory.

The Western Australian exploration company will focus on recently confirmed high priority targets using the talents of an experienced team of geologists and other key industry figures instrumental in discovering and developing the Browns Range project.

The campaign will unfold amid the enthusiasm of Australia’s Arafura Resources signing of a landmark deal to supply REEs from its Nolans Bore project in the NT to the Hyundai Motor Company.

The company said it was a pivotal milestone to unlock the project’s potential.

“Now very well placed to move ahead with the comprehensive exploration programs we already have underway at this highly prospective, yet under-explored region,” executive director George Bauk said.

“I would like to take this opportunity to thank the investors who participated in the Placement and our supporting brokers CPS Capital Group.

“We are delighted to have several significant new institutional and strategic investors join our register, and we thank existing shareholders for their support.

“With a strong cash balance, PVW is now very well placed to move ahead with the comprehensive exploration programs we already have underway in this highly prospective yet under-explored region.

“Current ground exploration activities are progressing well — we are all now looking forward to the imminent commencement of drilling, which we expect will occur in June following completion of heritage surveys.”

The company will also continue investigating projects in critical gold-producing regions of Western Australia.

PVW’s Australian Stock Exchange-listed share price was trading at 30c today (11.16 am UTC+ 8 hours).

COMPANY OVERVIEW

PVW Resources (ASX: PVW) is a diversified resource company established by a group of highly experienced mining executives that includes key members of the team that founded Northern Minerals and oversaw the development of the Browns Range Heavy Rare Earths Project. With a project portfolio spanning Tier-1 mining jurisdictions in the Tanami region of the NT, Kalgoorlie and Leonora, PVW has embarked on a potentially game-changing exploration campaign at its flagship Tanami Heavy Rare Earths and Gold Project in the NT. Located in the heart of the world-class Tanami mineral province, the Tanami Project offers exceptional potential for significant new heavy rare earths and gold discoveries, at a time when demand and pricing for critical minerals such as rare earths has never been more favourable to incentivise the discovery and development of potential new supply sources as part of a diversified global supply chain.

COMPANY INFORMATION

ASX: PVW

Website

https://pvwresources.com.au/
https://www2.asx.com.au/markets/company/pvw

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