Viking Mines acquisition and project advancement

Viking Mines (ASX: VKA) released its quarterly report for the period ending 30 September 2024. During this period, the company focused on metallurgical testwork at the Canegrass Battery Minerals Project in Western Australia. Viking Mines now owns 100% of the Canegrass Project, following the acquisition of Flinders Canegrass Pty Ltd from Red Hawk Mining Limited.

Summary of Viking Mines' strategic advancements

Viking Mines has made significant progress in advancing its Canegrass Project, notably through its strategic acquisition of full ownership. This move eliminates previous constraints and allows the company to focus on enhancing its vanadium extraction processes. The discovery of gold within the project adds potential value, requiring further exploration. Additionally, the company is reviewing its First Hit Gold Mine assets to assess and identify high-grade drill targets. With a strong cash position of $2.85 million, Viking Mines is well-positioned to continue exploring new opportunities and advancing its projects, aiming for long-term shareholder returns.

Executive commentary on Canegrass Project progress

Metallurgical testwork is vital for the development of the Canegrass Project. Acquiring full ownership provides strategic value, allowing us to maximize project potential.