FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

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

19 May 2022 11:28
ASX: PVW

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).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This