Accelerate Resources has completed the vend-out of its Tambellup kaolin project to private outfit, Vytas Resources. With conclusion of the transaction, Accelerate now holds a 33 per cent stake in Vytas who plans to list on the ASX with a portfolio of projects prospective for minerals key to the worldwide renewable technology industry, including high purity alumina, or “HPA” and high purity quartz, or “HPQ”.
An initial public offering for Vytas’ listing on the bourse is planned for April 2022.
Accelerate says it has now transferred $250,000 to Vytas to advance the latter’s works across its project portfolio and the funds will contribute to the definition of a JORC compliant resource at Tambellup, a JORC compliant resource at the Moora silica sands project and to the preparation of Vytas for its listing on the ASX.
The duo is seeking to develop a new technology material company focused on the supply of HPA and HPQ for energy production, energy storage and other industrial applications.
Leading Australian government research organisation, CSIRO recently identified both HPA and HPQ as critical minerals crucial to Australia’s transition to a renewable economy, according to Accelerate.
The company says the materials play a key role in the manufacture of solar panels, wind turbines, concentrated solar power and batteries.
Tambellup, located in the south of Western Australia, covers about 242 square kilometres of tenure. According to Accelerate, 52 aircore holes in 2020 confirmed...
Read Full Story: https://thewest.com.au/business/public-companies/accelerate-wraps-up-strategic-minerals-farm-out-c-4762512
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