CMG Completes FEED Phase, Raises $2.7M, Advances Lindfield Mine

• Raised $2.7 million via entitlement offer to fund development
• Completed FEED phase for vanadium electrolyte facility on time and under budget
• Advanced feasibility and environmental studies at Lindfield vanadium mine
• Built pipeline of potential vanadium flow battery projects across Australia
• Formed strategic partnership with Sumitomo Electric to enhance VFB technology deployment

Strategic Capital Raise Fuels Growth

Critical Minerals Group (ASX, CMG) has successfully raised $2.7 million through an entitlement offer, providing fresh capital to accelerate its integrated vanadium battery energy storage and mining operations. This funding underpins the company’s ambition to deliver long-duration vanadium flow battery (VFB) solutions by 2026, a timeline that aligns with Australia’s increasing need for reliable, renewable energy storage.

Downstream Focus, Vanadium Flow Battery Projects

CMG’s downstream segment has made notable progress, developing a pipeline of potential VFB projects aimed at shifting excess daytime renewable energy to evening periods. The company is actively engaging with customers and stakeholders, including a partnership with McKinlay Shire Council to explore a VFB installation in Julia Creek. These projects are designed to address grid stability challenges and reduce reliance on fossil fuels during peak demand hours.

CMG’s collaboration with Sumitomo Electric, a global leader in VFB technology, has been a highlight this quarter. Hosting Sumitomo’s team in Brisbane, CMG facilitated a VFB Masterclass attended by industry and government representatives, reinforcing its position as a key player in Australia’s energy transition.

Midstream, Vanadium Electrolyte Manufacturing Facility

The company completed the Front-End Engineering Design (FEED) phase for its vanadium electrolyte manufacturing facility in Logan City on time and under budget. This facility is critical for producing the electrolyte needed for VFBs and represents a significant step in establishing an end-to-end supply chain within Queensland. CMG is also exploring facility expansion to meet anticipated demand from its growing project pipeline.

Upstream, Lindfield Project Advances

On the mining front, CMG continues environmental and pre-feasibility studies at its flagship Lindfield Vanadium Project near Julia Creek. Fieldwork including soil, water, noise, and ecological surveys has been completed, with reports pending. Metallurgical test work aims to optimise reagent and water use, reflecting the company’s commitment to sustainable mining practices. Engagement with local stakeholders and government bodies remains active, supporting regulatory approvals and project advancement.

Financial Position and Outlook

Exploration expenditure for the quarter was $899,602, with corporate costs at $658,304. CMG ended the period with $1.26 million in cash, supported by recent capital raises and expected grant funding of $4.8 million over the next year. The company anticipates continuing its current expenditure levels to meet near-term development goals, including the Lindfield project and vanadium electrolyte facility commissioning.

While no binding contracts have yet been secured for the VFB projects in the pipeline, CMG’s comprehensive technical and commercial feasibility work positions it well to capitalise on the growing demand for long-duration energy storage solutions in Australia and beyond.

Bottom Line?

CMG’s integrated approach to vanadium mining and battery technology positions it at the forefront of Australia’s energy storage future, but contract finalisations and regulatory approvals remain key milestones to watch.

Questions in the middle?

• When will CMG secure binding contracts for its pipeline of vanadium flow battery projects?
• How will regulatory approvals for the Lindfield project impact the company’s development timeline?
• What are the prospects and timelines for expanding the vanadium electrolyte manufacturing facility?