Vital Metals Ord Shs VTMXF

Vital Metals

[123buyholdhope]

Interesting approach. Only CAD REE miner actually mining and exploring REE projects at the same time. Hence, it has already strategic money from CAD, a signed offtake with EU REEtec, the establishment (via REEtec) of a value chain with EU auto Schaeffler and an extraction facility set to open in June 2022 next to the SRC processor.

DyoDD.
 
VITAL METALS’ MARCH 2022 QUARTERLY REPORT HIGHLIGHTS

https://wcsecure.weblink.com.au/pdf/VML/02516393.pdf

• Vital accelerates heavy rare earths strategy, aiming to be the world’s first producer of both heavy and light rare earth oxides
• Vital’s three-stage development strategy includes adding heavy rare earths to its existing light rare earths operation at Nechalacho with first production ~ mid 2022
• It will investigate developing a zone of xenotime mineralisation, a heavy rare earth mineral, at Nechalacho’s North T pit, targeting a 10-year operation from the zone • Vital commences drilling to define maiden Ore Reserve for the Tardiff deposit at Nechalacho • Vital plans to develop Tardiff in a modular fashion, having defined three modules with an existing resource of 16.3Mt at 1.85% TREO – or 303kt contained TREO
 • Tardiff is part of Vital’slarger 94Mt at 1.4% TREO Nechalacho resource (1.3Mt contained TREO)
• Tardiff contains elevated heavy rare earths mineralisation which may complement North T’s xenotime deposit as part of Vital’s strategy to produce heavy and light rare earths
• Construction activities continue at Saskatoon Rare Earth Extraction facility with first feed to occur in June 2022
• Vital secures C$5 million interest-free funding facility from PrairiesCan
• Funding is for eligible costs relating to establishing and commissioning Saskatoon facility and will assist Vital’s working capital requirements during facility commissioning and ramp
• Vital’s shares commenced trading on the OTCQB Venture Market in North America
• Offtake partner REEtec signs supply agreement with Schaeffler securing Vital’s revenue from the sale of its product to REEtec.