TORONTO (miningweekly.com) – Canadian junior Energizer Resources has applied to graduate to the TSX main board, after having met the minimum requirements, the company said on Thursday.
The vanadium hopeful said it did so to allow it to “aggressively” develop its Green Giant project in Madagascar.
Moving to the main board would give the company exposure to a wider range of institutional investors, Energizer president and COO Julie Lee Harrs said.
Vanadium is used to make steel, and Energizer expects that the use of high-purity vanadium in battery technologies presents the company with a “great opportunity”.
The company said it anticipated the TSX would make a decision on allowing the move up to the main board in two months time.
The Green Giant project contains an indicated resource of 49,5-million tons at an average grade of 0,69%, containing 756-million pounds of vanadium pentoxide, making it one of the biggest known vanadium deposits world-wide, Energizer said.