Market's still treating this like an explorer when its moving into development.
Sounds like additional offtake agreement for the 1.5 will involve: - the offtaker participating in financing (not sure if that will be payment in advance/convertible note/equity/what), - govt agencies to assist (how tba) - CR to existing shareholders and finally - commercial bank loan(/s) whatever balance of the $150M required
Expansion to 5MPTA then self financing.
Market seems to think this is back in "this is the plan" stage rather than "these are the negotiations we are now in the midst of".
Complexity of process & assoc enviro risks are low, and the "mining will never happen in Victoria" factor - looks like Victoria has changed on that. Rare earths product is in demand for all the drones & robotics which are coming into play for not just war, but farming, factories, homes & the rest. And could be a nice good news story which I'd guess at state & fed level, govts would really be chasing rn.
The world's going to get rare earths out of this Aussie mine a lot sooner & easier than it will get any from Greenland or Ukraine, tell you that.
Them's my logic - what am I missing?
VHM Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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