Greenvale expands Alpha program for commercial bitumen
- Greenvale Energy expanded the final phase of its Test Programme 7 to assess commercial bitumen and high-asphaltene products.
- Shares dropped $0.001 to trade at $0.025 following the market update.
- The enlarged scope aims to establish scalable manufacturing of AS 2008-compliant paving-grade bitumen.
Greenvale Energy (ASX:GRV) has expanded the scope of Test Programme 7 at its Queensland Alpha Project to evaluate multiple commercial product streams.
The decision follows the completion of technical processing data provided by contractor Technix.
Greenvale has now commissioned SAMI Bitumen Technologies to perform blending and modification trials against paving-grade bitumen standards.
Greenvale Managing Director Alex Cheeseman said, “The new programme is designed to maximise the potential to produce a compliant paving-grade binder while defining the most practical pathway towards unlocking broader value from the Alpha Project.”
The programme prioritises C-170 bitumen certification while examining alternative commercial specification grades.
The company stated that the expanded scope is designed to assess the commercial potential of its 28-million-tonne resource, which holds 27.7 million barrels of synthetic oil equivalent.
Following the announcement, the Greenvale share price was down at $0.025.
The Alpha deposit represents a bitumen-focused asset located in Queensland.
