# AVL: Key Certificate Supports Vanadium Electrolyte Production Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03148741 Publisher: asx Original announcement: 2026-10-05T22:09:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-05T23:17:35.070Z Atlas analysis updated: 2026-10-05T23:17:35.070Z - Company: Australian Vanadium Limited - Ticker: AVL - Exchange: ASX - Region: Australia - Primary commodity: Vanadium - Secondary commodities: Iron ore, Titanium, Silicon, Aluminum - Document categories: Permitting, Resource update - Extracted: 2026-10-05 23:17:35 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Australian Vanadium Limited has received an AICIS assessment certificate for a key chemical component of vanadium electrolyte, supporting its planned scale-up to industrial-scale manufacture in Australia. The certificate's annual limit is estimated to support approximately 2.5 GWh of vanadium flow battery storage capacity. Reasoning: The receipt of an AICIS assessment certificate is a significant de-risking event for the company's midstream expansion into vanadium electrolyte production. - Positive factor: Regulatory milestone achieved via AICIS certificate - Positive factor: Supports industrial-scale vanadium electrolyte production - Positive factor: Establishes clear pathway for 2.5 GWh VFB capacity support Facts used in scoring: 14 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document references compliance with the JORC Code 2012 for the mineral resource estimate. Evidence · text > reported in compliance with the JORC Code 2012 ## Extracted facts Stored fact records: 14. Some facts used in scoring do not have a stored record. ## Resource Estimates (14) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-0) Australian Vanadium Project · vanadium Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: vanadium - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:8cd74b6b0769a7dc8423 - Deposit or zone: HG #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 1.14 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. Evidence · table > 30.6 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-1) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:8cd74b6b0769a7dc8423 - Deposit or zone: HG #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 46.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical byproduct grade restated for context. Evidence · table > 46.3 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-2) Australian Vanadium Project · titanium Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: titanium - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:8cd74b6b0769a7dc8423 - Deposit or zone: HG #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 12.9 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical byproduct grade restated for context. Evidence · table > 12.9 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-3) Australian Vanadium Project · silicon Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: silicon - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:8cd74b6b0769a7dc8423 - Deposit or zone: HG #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 7.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical byproduct grade restated for context. Evidence · table > 7.4 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-4) Australian Vanadium Project · aluminum Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: aluminum - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:8cd74b6b0769a7dc8423 - Deposit or zone: HG #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 6.2 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical byproduct grade restated for context. Evidence · table > 6.2 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-5) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:8cd74b6b0769a7dc8423 - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 46.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 46.3 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-6) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:f73713315bacf4d4e8fe - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 74800000 - Grade: 47.5 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 47.5 Context: 74.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-7) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:9dfa4a3d911259a1629d - Deposit or zone: HG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 67900000 - Grade: 45.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 45.3 Context: 67.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-8) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:9dc28ba93ae4ba5ee311 - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 61800000 - Grade: 26.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 26.1 Context: 61.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-9) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:a1efb80ff8f7ffe0eb74 - Deposit or zone: LG - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 142500000 - Grade: 24.9 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 24.9 Context: 142.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-10) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:c1fcfd369e736b8618f1 - Deposit or zone: Transported - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 17900000 - Grade: 31 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 31.0 Context: 17.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-11) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:4a9c2c302005559a4f3a - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 30600000 - Grade: 46.3 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 46.3 Context: 30.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-12) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:28f23fdd74895de8b424 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 136600000 - Grade: 37.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 37.8 Context: 136.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/avl-key-certificate-supports-vanadium-electrolyte-production--e1f667f8-b960-467d-a5df-94fd22329f94#fact-resource-facts-13) Australian Vanadium Project · iron\_ore Historical result Needs review: historical\_restatement #### Identity - Project: Australian Vanadium Project - Commodity: iron\_ore - Region: australia - Reported Region: Australia - Ticker: AVL #### Resource scope - Estimate type: resource - Reporting standards: jorc - Resource group id: resource:e434af3f2d4b8dcdf25b - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 228200000 - Grade: 31.4 - Grade Unit: % #### Prior Estimate - Resource Date: 2024-05-07 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2024-05-07T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical resource data restated for context. \(Expanded from multi-commodity resource table for completeness.\) Evidence · table > 31.4 Context: 228.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.4 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.