Dear Shareholders,
As we wrap up the 2024/2025 financial year, it’s the fitting time to reflect on the significant progress VHM has made in advancing the Goschen Project in Victoria. Over the past 12 months, we’ve taken major strides towards transforming Goschen into a leading producer of Heavy Minerals including zircon and titania minerals, as well as rare earth elements such as Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb).

VHM has reached several key milestones that bring us closer to a Final Investment Decision. These include:

  • Primary project approval with the endorsement of our Environment Effects Statement by the Victorian Planning Minister.
  • Award of a Mining Licence by Resources Victoria.
  • Submission of our Workplan, progressing secondary approvals.

On the commercial front, we’ve signed a significant offtake agreement with Shenghe Resources for both Heavy Mineral Concentrate (HMC) and Rare Earth Concentrate (REC).

We’ve also entered into MOUs with Currumbin Minerals and Mitsui for HMC supply, strengthening our market position and partnerships.

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