ASX Release 26 July 2022
ASX:VUL
FSE:VUL
Fast Facts
Issued Capital: 143,335,301
Market Cap (@$7.11): $1.02B
onlyHighlights
• Eight local councils have approved Vulcan's upcoming 3D seismic programme of works in | ||
use | Rhineland-Palatinate region | |
• Exploration Licence area increased by 277km2 to a total of 1,440km2 | ||
Summary | ||
• Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company) has received | ||
personal | approval to carry out a 3D seismic survey from eight local councils across the Company's license | |
area in the German state of Rhineland-Palatinate. Vulcan has received support for its work plan | ||
Ried, following an agreement with Rhein Petroleum GmbH to purchase 3D seismic and drilling | ||
applications from all of the following councils that have voted: | ||
• City of Landaun der Pfalz | ||
• Municipality of Herxheim bei Landau Pfalz | ||
• | Municipality of Rohrbach | |
• | Municipality of Insheim | |
• Municipality of Offenbach an der Queich | ||
• Municipality of Billigheim-Ingenheim | ||
• | Municipality of Impflingen | |
• Municipality of Erlenbach bei Kandel | ||
• Pre-design is ongoing for the 3D seismic survey work, which is planned to commence in | ||
September 2022. The 3D seismic work will assist with future development drill planning in | ||
Vulcan's Phase One areas | ||
• Vulcan has been granted a new exploration license, increasing the Company's license area in the | ||
Upper Rhine Valley Brine Field (URVBF) by 277km2 to a total of 1,440km2 | ||
• Vulcan already has some existing 3D seismic data over the new exploration license, designated | ||
For | data in November 2021 (see ASX release 10 November 2021). Further 3D seismic data is available | |
and purchase discussions are ongoing | ||
Vulcan's Managing Director Dr Francis Wedin commented: "We welcome the decision of the eight councils in the German state of Rhineland-Palatinatefor Vulcan to commence 3D seismic work, as we continue to experience increasing positive momentum at a local level for the Zero Carbon Lithium™ Project. So far, all local votes for Vulcan's work plan applications in our Phase 1 area have been positive, which is a strong endorsement for our Project, as well as for the reputation and professionalism for the Vulcan team; many of whom have worked in the geothermal industry and the local area for many years.
"Our new exploration license, Ried, increases our license exploration area by 24%, for what is already the largest JORC compliant lithium resource in Europe. A strength of the Upper Rhine Valley region is the extensive exploration and development historically conducted by oil and gas companies, and Vulcan continues to leverage the work performed by the hydrocarbons industry to accelerate the Zero Carbon
Contact
Level 11, Brookfield Place | Vulcan Energie Ressourcen GmbH |
125 St Georges Terrace | Baischstr. 8 |
Perth WA 6000 Australia | 76133 Karlsruhe |
08 6189 8767 |
Lithium™ Project by reducing the amount of time required to gather data. The grant of the Ried exploration onlylicense allows us to realise this data acquisition strategy, first executed last year. We are now well positioned to progress work in this area more efficiently and cost effectively, at a time of unprecedented
demand for lithium for electric vehicles, and for renewable energy in Europe."
Vulcan's Zero Carbon Lithium™ Project License areas
usepersonalFigure 1: Upper Rhine Valley Brine Field (URVBF), showing license areas and key operations areas making up Vulcan's integrated renewable geothermal energy and Zero Carbon Lithium™ business.
*The map is not to scale and is a high level, visual representation of Vulcan's license area. For
only | Vulcan Zero Carbon Lithium™ Project Granted Licenses | ||||||||
Area | Area | license | |||||||
Name | State | Type | |||||||
(ha) | (km2) | ||||||||
Upper Rhine Valley Geothermal-Lithium Brine Field | |||||||||
Insheim | Rheinland-Pfalz | 1,900 | 19 | Production | |||||
use | Ortenau | Baden-Württemberg | 37,360 | 373.6 | Exploration | ||||
License | |||||||||
Mannheim | Baden-Württemberg | 14,427 | 144.27 | Exploration | |||||
License | |||||||||
Lampertheim | Hessen | 10,803 | 108.03 | Exploration | |||||
License | |||||||||
Taro/Lisbeth | Baden-Württemberg | 3,268 | 32.68 | Exploration | |||||
License | |||||||||
personal | Ludwig | Rheinland-Pfalz | 9,641 | 96.41 | Exploration | ||||
License | |||||||||
Therese | Rheinland-Pfalz | 8,109 | 81.09 | Exploration | |||||
License | |||||||||
Kerner | Rheinland-Pfalz | 7,226 | 72.26 | Exploration | |||||
License | |||||||||
Löwenherz | Rheinland-Pfalz | 7,543 | 75.43 | Exploration | |||||
License | |||||||||
Landau | Rheinland-Pfalz | 1,94937 | 19.494 | Production | |||||
license | |||||||||
Flaggenturm/ | |||||||||
Fuchsmantel | Rheinland-Pfalz | 14,114 | 141.14 | Exploration | |||||
License | |||||||||
Ried | Hessen | 27,724 | 277.24 | Exploration | |||||
License | |||||||||
For | Cesano Field | ||||||||
Cesano | Italy | 1,150 | 11.5 | Research | |||||
Permit | |||||||||
Expiry date | Ownership | Change in | |||||
(MM/YYYY) | at End of | Ownership | |||||
Quarter | |||||||
100% | |||||||
11/2037 | N/A | ||||||
06/2023 | 100% | N/A | |||||
06/2024 | 100% | N/A | |||||
07/2024 | 100% | N/A | |||||
08/2022 | 100% | N/A | |||||
12/2024 | 100% | N/A | |||||
12/2024 | 100% | N/A | |||||
12/2024 | 100% | N/A | |||||
12/2024 | 100% | N/A | |||||
N/A | Brine offtake | agreement | |||||
with owner/operator | |||||||
12/2022 | 100% | 100% | |||||
TBA | 0%* | 100% | |||||
*Licenses | granted | after | 30 | ||||
June 2022 | |||||||
N/A | |||||||
100%* | |||||||
01/2025 | Subsequent to the quarter, the | ||||||
Cesano license | area | will | |||||
become co-owned 50:50 by | |||||||
Vulcan and EGP. | |||||||
About Vulcan
onlyVulcan is aiming to become the world's first lithium producer with net zero greenhouse gas emissions. Its Zero Carbon Lithium™ Project intends to produce a battery-quality lithium hydroxide chemical product from its combined geothermal energy and lithium resource, which is Europe's largest lithium resource, in Germany. Vulcan's unique, Zero Carbon Lithium™ Project aims to produce both renewable geothermal energy, and lithium hydroxide, from the same deep brine source. In doing so, Vulcan intends to address lithium's EU market requirements by reducing the high carbon and water footprint of production, and total reliance on imports. Vulcan aims to supply the lithium-ion battery and electric vehicle market in Europe, which is the fastest growing in the world. The Vulcan Zero Carbon Lithium™ Project has a resource which could satisfy Europe's needs for the electric vehicle transition, from a
usesource with net zero greenhouse gas emissions, for many years to come. personalFor
onlyCorporate Directory Managing Director Chairman Non-Executive Director Non-Executive Director Non-Executive Director
useNon-Executive Director Non-Executive Director Non-Executive Director Executive Director, Germany Company Secretary
Dr Francis Wedin
Gavin Rezos
Ranya Alkadamani
Annie Liu
Dr Heidi Grön
Josephine Bush
Dr Günter Hilken
Mark Skelton
Dr Horst Kreuter
Daniel Tydde
personalFor and on behalf of the Board Daniel Tydde | Company Secretary
Media and Investor Relations contact
Germany:
Beate Holzwarth, Chief Communications Officer | bholzwarth@v-er.eu| + 49 (0) 171 440 7844
Australia:
Jessica Bukowski, PR & IR Manager| jbukowski@v-er.eu| +61 (0) 420 528 355
For | |
Please contact Vulcan's Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt | |
Stock Exchange listing on mgrodde@v-er.eu. | |
Reporting calendar | |
June Quarterly Activities and Cashflow Reports | 28 July 2022 |
FY22 Results | 22 September 2022 |
September Quarterly Activities and Cashflow Reports | 27 October 2022 |
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Disclaimer
Vulcan Energy Resources Limited published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 22:48:02 UTC.