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Vulcan Energy Resources Ltd. ( (AU:VUL) ) has issued an update.
Vulcan Energy Resources Ltd. has signed a binding offtake agreement with Glencore, a major natural resource company, to supply between 36,000 and 44,000 tonnes of lithium hydroxide monohydrate over eight years. This agreement is crucial for the financing of Vulcan’s Phase One Lionheart Project, which is set to produce enough lithium for approximately 500,000 electric vehicles annually. The partnership with Glencore, alongside existing agreements with companies like Stellantis and LG Energy Solution, positions Vulcan strongly in the European lithium market and provides flexibility for future European partnerships.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
More about Vulcan Energy Resources Ltd.
Vulcan Energy Resources Ltd. operates in the natural resources industry, focusing on the production of battery-quality lithium hydroxide monohydrate (LHM). The company is involved in the Lionheart Project, which aims to produce lithium for electric vehicle batteries, with a strong market focus on Europe.
Average Trading Volume: 1,493,870
Technical Sentiment Signal: Buy
Current Market Cap: A$1.59B
Learn more about VUL stock on TipRanks’ Stock Analysis page.