Victory Metals Ltd (ASX: VTM)
Victory Metals Ltd (ASX: VTM) is speedily becoming a main player in the Australian rare earths sector, particularly in the production of Heavy Rare Earth Elements (HREEs) critical to both the defense industry and global technology markets. The company North Stanmore project, located in Western Australia, hosts some of the highest metallurgical extraction rates for key HREEs, including Terbium, Dysprosium, Lutetium, and Yttrium. The company Mixed Rare Earth Carbonate (MREC) production contains a strategic mix of critical REEs like Dysprosium, Terbium, and Gallium, along with by-products such as nickel, cobalt, and copper. Through low operational costs and high resource quality, North Stanmore represents a long-term, low-cost supply of these essential materials.
The North Stanmore project stands out for its large-scale potential with a mineral resource estimate of 247.5 million tonnes and recoveries above 90% for key rare earths. This project is poised to become Australia’s largest clay-hosted heavy REE resource, boasting a 31 year mine life. The deposit is open in all directions signaling substantial future growth potential. The project was aided by government assistance and a good regulatory climate, with efficient approvals and stable legal systems that make it more attractive to investors.
VTM has secured a Letter of Interest from the Export-Import Bank of the United States (EXIM) offering up to US$190 million in potential project financing. This endorsement from EXIM highlights the international geopolitical significance of the North Stanmore project and positions Victory Metals as a key player in diversifying the global supply chain for critical minerals. The LOI further supports VTM strategic role in securing non-Chinese supplies of these vital resources.
Ausgold Ltd (ASX: AUC)
Ausgold Ltd (ASX: AUC), on 28 April 2025 declared its quarterly Report for the period ending 31 March 2025.
The company continue to advance the Katanning Gold Project (KGP) Feasibility Study which is expected to be finished by June 2025. Main milestones achieved during the March 2025 quarter include significant progress in permitting, with state and federal referral processes moving forward. Drilling results from the Dingo and Central Zones have exceeded expectations, through high-grade gold intersections, including several 10m+ intercepts above 2g/t gold. These results are adding to the growing confidence in the resource endowment, prompting targeted follow-up drilling at satellite prospects like Datatine in the Northern Zone.
The company has $14.9 million in cash at quarter end, providing a solid foundation for advancing the KGP.
Resource estimation and mining studies are also advancing with the company updating its Mineral Resource Estimate using a more rigorous economic pit constraint approach. This approach, along with ongoing mining design and cost evaluations, will help refine the Ore Reserve estimate for the KGP. Metallurgical testwork to support process plant design and recovery assumptions is complete, while hydrogeological assessments are ongoing. The design of the Tailings Storage Facility has been mostly finalized, with a focus on minimizing environmental impact and enhancing stability.
The environmental permitting process is progressing, with field studies completed and technical reports now being integrated for submission to the Western Australia Environmental Protection Authority in the coming quarter. These studies, which include flora, fauna, and water management assessments, are crucial for securing the necessary regulatory approvals. As Ausgold moves closer to its goal of a Final Investment Decision in early 2026, the KGP is positioning itself as a potential mid-tier gold producer.
(Source: Company Announcements)
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