Insights

It’s electrifying: Vulcan Energy (ASX:VUL) share price up 23% today

The Vulcan Energy (ASX: VUL) share price is up 23% today and now in a trading halt. Let’s take a look at what this share has been up to.
The post It’s electrifying: Vulcan Energy (ASX:VUL) share price up 23% today appeared first on The Motley Fool Australia. –

The Vulcan Energy Resources Ltd (ASX: VUL) share price rocketed 23.51% today. Shares are now in a trading halt pending a further announcement.

Vulcan’s share price has risen by 2,924% over the past 12 months, a no doubt exhilarating ride for Vulcan shareholders. A steady stream of announcements regarding the company’s European lithium project has largely been the driver for the gains.

The road so far for Vulcan Energy 

Early site investigations

Vulcan entered 2020 with the largest Joint Ore Reserves Committee (JORC)-compliant lithium resource in Europe. From there, the company got underway with building an experienced team and conducting studies of the resource.

On 21 February 2020, Vulcan indicated that scoping studies confirmed the potential for a combined lithium and renewable energy production project – enabling a net-zero carbon footprint.

For the following few months, the company went on an Australian virtual roadshow. While doing so, it continued its pre-feasibility studies and raised $4.8 million to facilitate further development.

July delivered two expert chemical and mechanical engineers to the Zero Carbon Lithium team.

In early August, the company announced that it had completed direct lithium extraction (DLE) tests. The DLE results from the Upper Rhine Valley geothermal brine showed lithium recovery rates in excess of 90%.

Experienced appointments to Vulcan

On 26 August 2020, Vulcan announced that Dr Kathrina Gerber would bring her extensive lithium-ion battery expertise to its executive team as project manager.

Shortly after in September, it was announced that ex-Tesla Inc (NASDAQ: TSLA) director Jochen Rudat would join Vulcan. A former direct report to Elon Mush, Mr Rudat was integral in the launch of Tesla’s Models S, 3, X, and Roadster in the Central European region. 

Mr Rudat’s role will be to explore offtake partnerships in the electric vehicle and battery sector in Europe.

Regulatory changes

More recently, Vulcan updated the market to regulatory propositions in Germany, and Europe more broadly, that are expected to be advantageous to the company. Germany’s Amended Renewable Energy Sources Act will reduce the decrease in the rate for prices on geothermal energy fed into the grid.

Additionally, the European Commission proposed a maximum carbon footprint threshold that manufacturers would need to comply with.

Today, the company is in a trading halt, pending an announcement in relation to a pre-feasibility study for its Zero Carbon Lithium project.

What next?

Vulcan shares will remain in the trading halt until the earlier of the commencement of normal trading on Wednesday 13 January 2020, or until the release of the company’s announcement.

Based on its share price at the time of the trading halt coming into effect, Vulcan commands a market capitalisation of $398.66 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post It’s electrifying: Vulcan Energy (ASX:VUL) share price up 23% today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!