VHM Limited Quarterly Activities Report

VHM Limited (ASX: $VHM) released its Quarterly Activities Report for the period ended 31 March 2024, highlighting significant progress in the Goschen Project's Environment Effects Statement (EES) approvals, securing the first binding offtake agreement, and discovering a maiden Mineral Resource estimate at Nowie.

Executive Commentary on Quarterly Activities

The Company is pleased to announce the progress made in advancing the Goschen Project's EES approvals and securing the first binding offtake agreement for the concentrates. The additional Mineral Resource estimate at Nowie further strengthens our position as a significant player in the rare earths and mineral sands sector. We are committed to continuing our exploration and evaluation work, subject to the necessary assessments, and look forward to the outcomes of the EES approvals process for the Goschen Project.

Summary of Quarterly Activities Report

VHM Limited has made substantial advancements in the Goschen Project's EES approvals, with the Public Exhibition and Hearing stages concluded, and a binding offtake agreement secured for a significant portion of the Goschen Project's concentrates. The discovery of a maiden Mineral Resource estimate at Nowie and the revised and expanded Resource at Area 2 have significantly increased the Company's total inventory tonnage. The appointment of Mr Ron Douglas as the permanent CEO and the resignation of Mr Graham Howard reflect the Company's strategic leadership changes. VHM's commitment to further exploration and evaluation work, along with its financial position and use of funds, demonstrates its dedication to the development of its rare earths and mineral sands projects.