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Australian Vanadium receives a price query from the ASX as shares pop

The company is developing its Gabanintha Vanadium Project in Western Australia.
share price chart going up
Further test work is being undertaken and the results remain pending

Australian Vanadium Ltd (ASX:AVL) yesterday received a price query from the Australian Securities Exchange (ASX) on the back of rapid share price appreciation.

The price query letter from the ASX noted a 46% rise in price from the company’s low of $0.037 on Monday 12 March 2018 to its intra-day high of $0.054 yesterday Tuesday 13 March 2018.

AVL replies saying all information is in market

AVL responded to the query from the ASX saying it was not aware of any information concerning it that has not been released to the market that might cause such a move in the share price.

The company could only point to its recently announced metallurgical test work update, including commentary on further test work being undertaken.

READ: Australian Vanadium tests confirm project can supply energy storage markets

Test results are not yet available and test work is ongoing.

AVL also noted the increase in the vanadium price, which is now at a 10 year high.

WATCH: Australian Vanadium buoyed by strengthening vanadium demand

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