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[Ferro-Alloys.com] AVL RECEIVES $618,904 R&D REFUND FOR  2020/21 TAX YEAR

KEY POINTS

$618,904 received from Australian Federal Government Research & Development (R&D) Tax Incentive Scheme

Refund applies to work undertaken in 2020/21 tax year

R&D activities support technical strength in AVL’s processes

Innovative work includes:

Production of high purity 99.4% vanadium pentoxide (V2O5) using simplified circuit1

Energy efficiency and world leading vanadium extraction from pyrometallurgy roast-leach testwork2

High vanadium extractions of greater than 92% in two-stage leach process34

Production of FeTi coproduct representative samples5

Unique vanadium processing circuit to be protected through patent application6

Australian Vanadium Limited  is pleased to announce that it hasreceived $618,904 from the Australian Federal Government’s Research and Development (R&D) Tax Incentive Scheme for the 2020/21 tax year.

Administered jointly by the Australian Taxation Office (ATO) and the Department of Industry, Science, Energy and Resources, the self-assessment scheme encourages companies to engage in R&D benefiting Australia, by providing a tax offset for eligible activities.

Managing Director, Vincent Algar comments, “The R&D scheme is an excellent program which encourages companies to develop their processes and find innovative ways to achieve the best results. AVL has undertaken industry leading work over the past few years and the 2020/21 program included work that was vital for inputs into the Bankable Feasibility Study (BFS) which was released earlier this year. 7 The Company continues to set itself apart from other vanadium projects, through thorough testing and research work which enables scaling during project build to be as far de-risked as is possible. Doing this work before construction reduces project cost blowouts and issues having to be resolved once processes are in place – a problem that has been seen in many projects over the years where technical work has not been as robust.”

AVL’s R&D work for the period during 2020/21 was focused on development of processing techniques to produce steel and battery grade vanadium pentoxide and vanadium electrolytes, while recovering iron and titanium from a vanidiferous titanomagnetite (VTM) ore. Work was also undertaken on pilot scale pelletising and roasting of AVL concentrate utilising a grate kiln; hydrometallurgical process testwork; process work to recover titanium and iron from waste streams; production of FeTi coproduct samples; concentrate recovery variability testwork and vanadium electrolyte analysis.

AVL’s unique combination of physical beneficiation, pyrometallurgical and hydrometallurgical steps has been combined to underline a patent application which was published by the International Bureau in October 2022. The AVL team continues to advance the Australian Vanadium Project at Gabanintha towards a development decision.

• [Editor:tianyawei]