VHM Limited (ASX: VHM) is a rare earths and mineral sands exploration and mine development company and owns 100% of the advanced stage Goschen Project, located in Victoria’s north-west critical minerals province. VHM’s flagship Goschen Project presents a compelling low-cost operation for high-grade rare earths and zircon-titania products. Goschen’s dual commodity mix is an attractive economic opportunity to contribute to Australia’s supply and trade position in the global critical rare earths markets.
Approximately 70% of Goschen’s revenue will come from rare earth elements including Neodymium, Praseodymium, Dysprosium and Terbium, which are critical for electric vehicles, energy efficiency and technology.
VHM has progressed the Project to near-term Final Investment Decision status, gaining national recognition from the Australian government when it was granted Major Project status in 2021. The refreshed Definitive Feasibility Study released in March 2023 demonstrated a pre-tax Net Present Value of $1.5bn and Internal Rate of Return of 44%, with low operating cost and capital intensity.
In May this year, VHM released news of initial mineral resource estimates for its Cannie Critical Mineral Project, located just 13.5km to the south of the Goschen Project. The maiden Cannie results revealed an inferred Mineral Resource estimate of 192 million tonnes (Mt) and more than 176,000 tonnes of exceptional grade Total Rare Earth Oxide (TREO) + Yttrium.
VHM has already defined one of Australia’s largest, rare earths mineral inventories and has significant scope for growth in the coming months with initial results from the emerging Nowie Project, north of Goschen, shaping up to further bolster VHM’s inventory in Victoria’s New Major Critical Minerals Province.
The addition of Cannie resources increases the Company’s resource inventory tonnage by 30 percent, bringing the Company resources inventory to 820Mt and lifting the Company’s TREO + Yttrium resource inventory by 43 percent to 589,000 tonnes.
The Company listed in January this year with project development well progressed and production targeted in 2025.