Australian Vanadium Limited has entered into an unconditional agreement with Albright Metals Ltd to consolidate 100% ownership and control of mineral rights across key tenements at the Australian Vanadium Project in Western Australia.

The transaction terminates a 2017 mineral rights sale agreement and an associated 0.75% Net Smelter Return royalty payable to the company. Under that previous arrangement, Australian Vanadium Limited had granted Albright exploration and mining rights over all minerals other than vanadium, uranium, cobalt, chromium, titanium, lithium, tantalum, manganese and iron ore.

All of Albright's rights and interests now revert to Australian Vanadium Limited, removing split ownership across the project tenure and restoring rights to additional commodities, including nickel, copper and gold.

Under the terms of the agreement, Australian Vanadium Limited will pay $500,000 in cash, issue $1.25 million worth of its shares to Albright subject to an orderly sale process, and assign its interest in a 0.75% net smelter return royalty over the Tumblegum South project. Albright will also withdraw its caveats over the relevant tenements and hand over all technical data.

The transaction is unconditional and scheduled to complete two business days after 16 September 2026.

The Australian Vanadium Project comprises an open-cut mine and concentrator at Gabanintha near Meekatharra and a proposed vanadium oxide processing plant at Tenindewa near Geraldton. While the current development case remains focused on vanadium, the company stated that reacquiring the base and precious metal rights allows it to evaluate future integration opportunities.

“Our immediate focus remains the development of a globally significant vanadium operation. In addition to simplifying the operating framework, the transaction also preserves for AVL shareholders the potential value of additional minerals within the broader project area, including nickel, copper and gold”

— Graham Arvidson, Chief Executive Officer

Completion of the agreement clears the way for Australian Vanadium Limited to manage its project tenure under a unified framework.

Read the full announcement: AVL Consolidates Mineral Rights & Future Optionality