Technology Metals Australia, which counts Resource Capital Fund as its 17.1 per cent shareholder, had two brokers constructing assist for a $10 million capital elevating over the weekend forward of a launch on Monday.

Fund managers fielded calls from Bridge Street Capital Partners and Ashanti Capital, who have been providing shares at 28¢ – or a 12.5 per cent low cost to the final shut. The vanadium explorer was all the way down to $8.1 million money on the finish of March, and is plugging away at its West Australian undertaking Murchison.

Potential backers have been instructed the corporate had a giant market in batteries, the place vanadium is seen as a longer-duration, lower-maintenance and safer different to lithium-ion batteries particularly for industrial and distant use. Vanadium batteries’ deserves already had a number of miners, together with IGO Limited, trialling the expertise at its websites, they have been instructed.

Technology Metals Australia has pitched itself as a tier 1 asset for vanadium, at a time when demand is climbing and 85 per cent of the world’s manufacturing of the metallic was concentrated within the fingers of three international locations: Russia, China and South Africa.

Resource Capital Fund’s presence on the register was anticipated to be a drawcard for the elevating. RCF additionally owns 7.48 per cent of listed peer Australian Vanadium Limited, and has kind in orchestrating M&A between synergistic companies that it has tipped its cash into. It performed an analogous function at lithium miner Pilbara Minerals, serving to the corporate finance its acquisition of embattled peer Altura Mining in 2020.

Should RCF want to rustle up a deal at Technology Metals Australia, it might have an apparent goal in Australian Vanadium Limited but in addition within the close by Windimurra vanadium plant which went into administration. That may probably be reconfigured to deal with Technology Metals Australia’s ore and lower down on the corporate’s capital expenditure, sources stated.