Volt Resources Limited: Advancing To The Next Stage Of Battery Material Development
Highlights
- Volt Energy Materials LLC (“VEM”) is progressing the development of downstream commercialization plans in the US with the previously announced lithium-ion battery (“LIB”) cell developer[i].
- Baseline battery anode material (“BAM”) requirements have been met warranting additional testwork and assessment by the cell developer of Volt’s future production capacity through to 2025. This will require the development of a scalable standalone battery anode facility.
- BAM production plans for potential customers in the US including the Energy Supply Developer (“ESD”) Super Site reflects the surging demand and strong outlook in the North American battery market.
- In late-stage discussions with a global engineering firm to undertake feasibility studies for Volt’s US located manufacturing facilities to address the BAM requirements of the cell developer and ESD Super Site.
Graphite producer and battery materials developer Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to advise of advanced testwork and BAM supply discussions progressing in the United States with a number of entities engaged in both the electric vehicle and stationary storage industry. Negotiations have also progressed with a multinational engineering firm to commence feasibility studies for the BAM facilities to meet the future demand from battery manufacturers.
Volt Managing Director, Trevor Matthews, commented: “Volt is accelerating its battery anode material offtake discussions and testwork in the United States in the rapidly growing lithium-ion battery EV and energy storage market which is seeking local production capability.
Testwork activities and related offtake discussions have advanced from understanding Volt’s future production plans with potential customers now asking, “How Much Can Volt Supply Us in 2025?”.
The formation of Volt Energy Materials LLC will help coordinate our business development activities as Volt progresses battery materials supply discussions with battery manufacturers in addition to advancing the commencement of graphite battery materials production feasibility studies with a global engineering firm.”
Volt has formed a US subsidiary, Volt Energy Materials LLC, which will be the entity within which the various graphite battery materials businesses will be incorporated including the battery anode materials, and the alkaline and lead-acid battery products. Funding submissions for US government support to assist the development and expansion of the electric mobility and energy storage supply chain are required to be submitted by US entities.
-ENDS-
This announcement was authorised for release by the Board of Volt Resources Ltd.
For further information please contact:
Trevor Matthews
Managing Director
Tel: +61 8 9486 7788
Alex Cowie
Investor Relations
Tel: +61 412 952610
Follow us on Twitter @ASXVolt
Volt Resources Ltd ACN 106 353 253
Level 25, 108 St George’s Terrace, Perth WA 6000
Telephone: +61 (0)8 9486 7788
About Volt Resources Limited
Volt Resources Limited (“Volt”) is a graphite producer/developer and gold exploration company listed on the Australian Stock Exchange under the ASX code VRC. Volt has a 70% controlling interest in the Zavalievsky Graphite business in Ukraine. Zavalievsky is in close proximity to key markets with significant developments in LIB facilities planned to service the European based car makers and renewable energy sector. ZG benefits from an existing customer base and graphite product supply chains based on excellent transport infrastructure covering road, rail, river, and sea freight combined with reliable grid power, ample potable ground water supply and good communications1[ii].
Volt acquired three licence applications that are considered to be prospective for lithium-borate mineralisation. The licence applications are in respect to a total area of 291km2, located in Serbia and are west and south-west of the Serbian capital, Belgrade[iii].
Volt is progressing the development of its large wholly-owned Bunyu Graphite Project in Tanzania, as well as gold exploration in Guinea leveraging the Company’s existing extensive networks in Africa.
The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study (“FS”) into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products[iv]. A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.
The Guinea Gold Projects comprise 6 permits in Guinea, West Africa having a total area of 348km. The Projects are located in the prolific Siguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.
[i] Refer ASX announcement dated 13 April 2022 and tilted “Battery Anode Material Testwork and Offtake Discussions”.
[ii] Refer to Volt’s ASX announcements titled “Volt to Acquire European Graphite Business following Completion of Due Diligence” dated 14 May 2021 and “Completion of the ZG Group Transaction Following Execution of New Convertible Securities Facility” dated 26 July 2021.
[iii] Refer to Volt’s ASX announcement titled “Strategic European Lithium Acquisition – Jadar North” dated 18 November 2021.
[iv] Refer to Volt’s ASX announcement titled “Positive Stage 1 Feasibility Study Bunyu Graphite Project” dated 31 July 2018. The Company confirms that it is not aware of any new information or data that materially affects the information included in this document and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
