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Avalon Advanced Materials Inc. is a Canadian advanced manufacturing company focused on vertically integrating the Ontario lithium supply chain. The Company, through its joint venture with SCR-Sibelco NV, is currently developing its Separation Rapids lithium deposit near Kenora, ON, while also advancing the Snowbank lithium and Lilypad lithium-caesium projects. Avalon is also working on developing its Nechalacho rare earths and zirconium project in the Northwest Territories, containing critical minerals for advanced technologies in various industries. Furthermore, Avalon is executing a key initiative to develop Ontario's first midstream lithium hydroxide processing facility in Thunder Bay, ON.
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Avalon Advanced Materials announced the results of an independent valuation report by AFRY Canada for its proposed lithium processing facility in Thunder Bay, Ontario. The report estimates the replacement cost of the site's infrastructure at $46 million, with land valued between $11 to $16 million, totaling $57 to $62 million. The site covers 377 acres, including buildings, underground services, electrical services, rail spurs, and a deep-water port. CEO Scott Monteith emphasized that the existing infrastructure accelerates the timeline for constructing Ontario's first lithium hydroxide conversion facility.
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Avalon Advanced Materials announces the commencement of a Preliminary Economic Assessment (PEA) for Avalon's Thunder Bay Lithium Conversion Facility. The PEA will be conducted by DRA Americas Inc., a subsidiary of DRA Global, and will focus on a lithium hydroxide conversion facility utilizing environmentally friendly Metso lithium conversion technology. The facility, located in Thunder Bay, Ontario, will have a production capacity of 30,000 tonnes per year and is expected to address the increasing demand for lithium products in the EV and battery industries.
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Avalon Advanced Materials Inc. secures $2.75 million drawdown from Lind Global Fund II, LP for its lithium hydroxide conversion facility project in Thunder Bay, Ontario. The company plans to conduct a Preliminary Economic Assessment (PEA) using Metso lithium conversion technology.
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Avalon Advanced Materials Inc. announces a $15 million convertible security funding agreement with Lind Global Fund II, LP to support the development of a lithium processing facility in Thunder Bay, Ontario. The agreement includes a first drawdown of $2.75 million, with potential for additional drawdowns, and features a convertible security with a two-year term and 10% simple interest rate. Lind will also receive common share purchase warrants as part of the agreement.
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Avalon Advanced Materials Inc. announces successful election of all director nominees at the 2024 Annual and Special Meeting of Shareholders. Detailed voting results show overwhelming support for the directors and key proposals.
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Avalon Advanced Materials Inc. appoints Mr. Scott Monteith as CEO, highlighting his experience in clean tech and successful track record. The company has made strategic acquisitions and partnerships under his leadership. The shareholder meeting location has been updated to TMX Market Centre in Toronto.
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Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) announces the publication of its 2023 Sustainability Report, highlighting its commitment to sustainable development and environmental stewardship. The report details the company's key achievements, strategic partnerships, and transition to the new International Financial Reporting Standards (IFRS) sustainability disclosure standards. It also emphasizes the company's commitment to corporate social responsibility and collaboration with Indigenous partners.
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Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) is focused on building Ontario's first vertically-integrated lithium supply chain. The company has achieved significant milestones in 2023, including a joint venture agreement to commercialize the flagship Separation Rapids petalite deposit and the purchase of the Strathcona industrial site. Avalon's CEO, Scott Monteith, emphasized the company's commitment to delivering on its potential and pursuing an aggressive growth strategy for fiscal 2024. The company is hosting a one-hour Q&A webinar on December 7, 2023, featuring key members of the senior leadership team to provide a strategic update and discuss transformative developments achieved in 2023.
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Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) and SCR-Sibelco NV announce the closing of their joint venture transaction to form Separation Rapids Ltd. The joint venture aims to advance mining activities at the flagship Separation Rapids deposit near Kenora, ON, and the Lilypad Project near Fort Hope, ON. SRL will supply petalite-lithium to the global glass & ceramics industry and the North American EV battery manufacturing market. Sibelco owns 60% and Avalon owns 40% of SRL, with Sibelco funding the first €34.8 million of joint venture operations. The mineral output at Separation Rapids is expected to meet the demands of both markets, marking an exciting new revenue-generating path for Avalon.
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Avalon Advanced Materials Inc. has entered into a definitive Tripartite Purchase and Sale Agreement with SCR-Sibelco NV and Separation Rapids Ltd. The agreement involves the transfer of Avalon's Separation Rapids and Lilypad projects to SRL, a joint venture entity co-owned by Sibelco and Avalon. The sale is valued at approximately €23.2 million (C$34.1 million), with Avalon receiving a 40% interest in the joint venture entity.
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FAQ
What is the current stock price of AVALON ADVANCED MATERIALS (AVLNF)?
The current stock price of AVALON ADVANCED MATERIALS (AVLNF) is $0.028 as of December 20, 2024.
What is the market cap of AVALON ADVANCED MATERIALS (AVLNF)?
The market cap of AVALON ADVANCED MATERIALS (AVLNF) is approximately 18.4M.
What is Avalon Advanced Materials Inc. focused on?
Avalon Advanced Materials Inc. is focused on vertically integrating the Ontario lithium supply chain, with projects in Separation Rapids, Snowbank, and Lilypad, as well as developing rare earths and zirconium deposits.
What key initiative is Avalon executing currently?
Avalon is working on developing Ontario's first midstream lithium hydroxide processing facility in Thunder Bay, ON, bridging the lithium resources of the north with the EV battery manufacturing base in the south.
Where is Avalon's Nechalacho rare earths and zirconium project located?
Avalon's Nechalacho rare earths and zirconium project is located in the Northwest Territories.
What critical minerals does Avalon's Nechalacho project contain?
The Nechalacho project contains critical minerals for use in advanced technologies in various industries such as communications and defense.
With whom is Avalon collaborating in its lithium supply chain projects?
Avalon is currently collaborating with SCR-Sibelco NV for its lithium supply chain projects.
AVALON ADVANCED MATERIALS
OTC:AVLNF
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18.35M
383.38M
20.84%
0.01%
0.41%
Other Industrial Metals & Mining
Basic Materials
United States of America
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