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23 February 2024 AlsterResearch

Potential EUR 500m EIB financing on the horizon; BUY.

“Yesterday, Vulcan Energy Resources provided an update on its financing efforts, as the Zero Carbon Lithium project appears potentially suitable for a financing from the European Investment Bank (EIB) of up to EUR 500m. After completing its Bridging Engineering Study (BES) in November, Vulcan kicked off the financing process for phase 1 of its Zero Carbon Lithium project. According to the BES, the CAPEX for Phase One is currently estimated with EUR 1.4bn. Development banks are a cornerstone of Vulcan’s financing efforts, having sent positive signals, despite the sharp drop in lithium prices last year.”