EQS-News: Vulcan Energy Resources Limited: Quarterly Activities Report September 2022
Strengthening Vulcan?s support for local communities, the Company sponsored the following events during the last 12 months, including: the Soapbox race (Insheim); Ukraine support (Landau) providing a financial donation to assist with school materials, clothing and food and colouring books for children; Handball TSG Ha?loch and HSG Landau Land, Su?dpfalztiger, TV Offenbach; the Duck race (Hassloch) and the Wine festival Isemer Sommer and Nu?dorfer Weinfest.
Over the European summer, Vulcan?s government relations team hosted a number of politicians, media, suppliers and partners at site, and attended conferences and events around Germany. The events and visits are an important opportunity to build a greater understanding the Zero Carbon Lithium? Project, exchange ideas and discuss ways to work together to deliver shared decarbonisation and energy security ambitions.?
Additional ASX Disclosure Information???
ASX Listing Rule 5.3.1: Exploration and Evaluation?expenditure during the?Quarter was??5.4 million. Expenditure was on engineering studies towards the DFS for the Vulcan?Zero Carbon?Lithium??Project, the interpretation of existing 3D seismic data and 3D seismic survey acquisition costs in its license areas.?Interpretation costs?include?capitalised costs from VES?where time?was allocated to?Vulcan?license areas.??
ASX Listing Rule 5.3.2: Development?expenditure?during the?Quarter was??7.1 million. Expenditure related to on site works of the?? Sorption Demo Plant, purchase of equipment for the CLP Demo Plant and refurbishment costs for Vulcan?s two electric drill rigs.? Expenditure also related to design engineering costs which included?capitalised costs?from VEE where time was dedicated to Vulcan?s Sorption Demo Plant.??
ASX Listing Rule 5 .3.3: Two exploration licenses in the Upper Rhine Valley were granted designated Ried, increasing the Company?s license area in the Upper Rhine Valley Brine Field (URVBF) by 277km2 to a total of 1,440km2.
ASX Listing Rule 5.3.5: Payments to related parties of the Company and their associates during the?Quarter per Section 6.1 of the Appendix 5B total??151,000.? This is comprised of an allocation of the Managing Director remuneration (including payment of FY22 STI) of??46,000, Non-Executive Director fees of??95,000?as well as consulting fees of??10,000?to JRB Consulting,? a company related to one of the Non-Executive Directors, in respect of a Board mandated review of the company?s ESG reporting.?Please see the Remuneration Report in the 2022 Annual Report for further details on Director?s Remuneration.???
Payments to related parties of the Company and their associates during the?Quarter per Section 6.2 of the Appendix 5B total??185,000. This amount is an allocation of the Managing Director?s remuneration (including payment of FY22 STI) for work done on exploration activities associated with the Vulcan?Zero Carbon?Lithium??Project.? Please see the Remuneration Report in the 2022 Annual Report for further details on Director?s Remuneration.??
Vulcan Zero Carbon Lithium? Project Granted Licenses???
Name? State? Area??(ha)? Area (km2)? Type? Expiry Date (MM/YYYY) Ownership at?end?of Quarter? Change in ownership? ?? Upper Rhine Valley Geothermal-Lithium Brine Field Insheim? Rheinland-Pfalz? 1,900? 19? Production license? 11/2037? 100%? N/A? Ortenau II Baden-W?rttemberg? 37,410? 374.10? Exploration License? 06/2023? 100%? N/A? Mannheim? Baden-W?rttemberg? 14,449? 144.49? Exploration License? 06/2024? 100%? N/A? Lampertheim? Hessen? 10,803? 108.03? Exploration License? 07/2024? 100%? N/A? Lampertheim II Hessen 198 1.98 Exploration License 07/2024 100% N/A Taro/Lisbeth? Rheinland-Pfalz 3,268? 32.68? Exploration License? TAR 08/2025 LIS 09/2024 100%? N/A? Ludwig? Rheinland-Pfalz? 9,634? 96.34 Exploration License? 12/2024? 100%? N/A? Therese? Rheinland-Pfalz? 8,112 81.12 Exploration License? 12/2024? 100%? N/A? Kerner? Rheinland-Pfalz? 7,226? 72.26? Exploration License? 12/2024? 100%? N/A? L?wenherz? Rheinland-Pfalz? 7,543? 75.43? Exploration License? 12/2024? 100%? N/A? Landau?-S?d Rheinland-Pfalz? 1,941? 19.41 Production license? N/A? Brine offtake agreement with owner/operator? Flaggenturm/ Fuchsmantel ? ? Rheinland-Pfalz? 14,114 141.14 Exploration License? FLA 12/2022 FUC 07/2023 100% N/A Ried Hessen? 28,992 289.9 Exploration License? 07/2025 100% 100% ? Cesano Field Cesano? Italy? 1,146 11.46 Research Permit? 01/2025? 50% N/A?
Founded in 2018, Vulcan?s unique Zero Carbon Lithium? Project aims to decarbonise lithium production, through developing the world?s first carbon neutral, zero fossil fuels business, with the co-production of renewable geothermal energy on a mass scale. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan is aiming to deliver a local source of sustainable lithium for Europe, built around a net zero carbon strategy with a strict exclusion of fossil fuels. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities.
Vulcan?s combined geothermal energy and lithium resource is the largest in Europe, with license areas in the Upper Rhine Valley, Germany, and in Italy. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the Zero Carbon Lithium? Project to ensure timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets.
Guided by our Values of Integrity, Leadership, Future-focused and Sustainability, and united by a passion for environmentalism and leveraging scientific solutions, Vulcan has a unique, world-leading scientific and commercial team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations who share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery and automakers in the world.? As a motivated disruptor, Vulcan will leverage its expert multidisciplinary team, leading geothermal technology and position in the European EV supply chain to be global leaders in the production of zero fossil fuel, carbon neutral lithium, while being nature positive. Vulcan aims to be the largest, most preferred, strategic supplier of lithium chemicals and renewable power and heating from Europe, for Europe; to empower a net zero carbon future.
Managing Director??Dr. Francis Wedin
Chairman ???Gavin Rezos
Non-Executive Director?Ranya Alkadamani
Non-Executive Director?Annie Liu
Non-Executive Director?Dr. Heidi Gr?n
Non-Executive Director ?Josephine Bush
Non-Executive Director?Dr. G?nter Hilken
Non-Executive Director?Mark Skelton
Executive Director, Germany?Dr. Horst Kreuter
Company Secretary ??Daniel Tydde
For and on behalf of the Board
Daniel Tydde | Company Secretary
Media and Investor Relations contact
Mareike? Inhoff, PR Manager | email@example.com |
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Please contact Vulcan?s Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on firstname.lastname@example.org??
Vulcan has changed its financial year end from 30 June to 31 December, effective from 1 July 2022. The change of financial year end will align Vulcan with the German financial year, following the Company?s listing on the regulated market of the Frankfurt Stock Exchange (FSE), in the Prime Standard market segment.
29 November 2022 Annual General Meeting 30 January 2023 December Quarterly? 31 March 2023 Annual Report? 28 April 2023 March Quarterly? 30 May 2023 Annual General Meeting? 28 July 2023 June Quarterly? 15 September 2023 Half Year Report? 27 October 2023 September Quarterly?
Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Vulcan operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Vulcan?s control.
Vulcan does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Vulcan, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.
This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Vulcan. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.
Competent Person Statement:
The information in this report that relates to Mineral Resources and Ore Reserves (respectively) of the Company's Zero Carbon LithiumTM is extracted from the ASX announcements made by Vulcan on 15 December 2020 ("Updated Ortenau Indicated and Inferred Resource") and 15 January 2021 ("Positive Pre-Feasibility Study"), which are available on www.v-er.eu. The information in this report that relates to Insheim's Mineral Resources is extracted from the ASX announcement made by Vulcan on 20 January 2020 ("Maiden Indicated Resource Insheim Vulcan Zero Carbon Lithium"), which is available on www.v-er.eu. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person?s findings are presented have not been materially modified from the original market announcements.
21.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.eqs-news.comLanguage: English Company: Vulcan Energy Resources Limited Level 11, Brookfield Place, 125 St Georges Terrace 6000 Perth
Australia E-mail: email@example.com Internet: www.v-er.eu ISIN: AU0000066086 WKN: A2PV3A Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1493019 ? End of News EQS News Service