VHM starts share trading
PERTH (miningweekly.com) – Rare earths developer VHM has started trading on the ASX under the ticker VHM following a A$30-million initial public offering (IPO).
VHM said in a statement on Monday that proceeds from the IPO would be used to progress development activities for the company’s flagship Goschen project in Victoria, continued exploration activities for upstream projects, and to fund the company through to a final investment decision at Goschen in the second half of 2023.
The Goschen project contains a Joint Ore Reserves Committee-compliant resource of 629-million tonnes and an ore reserves of 198.7-million tonnes which supports a life-of-mine in excess of 20 years.
The project has been given Major Project status by the Australian government.
“VHM is delighted to complete the listing process and commence our journey as an ASX-listed company. We are already at an advanced stage of development and have a clear pathway mapped to producer status with the team currently developing detailed engineering designs prior to construction of the Goschen project mine,” MD Graham Howard said.
“VHM presents a compelling opportunity with a globally significant project. The gap between the increasing demand for high-grade, ethically sourced rare earths and critical minerals from stable jurisdictions and declining supply is anticipated to widen as the world continues to transition to renewable and environmentally friendly products. VHM is well positioned to become a world-leading producer and supplier of critical minerals.”
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