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VITAL METALS LIMITED (VML)

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ASX, Legal & CGT Status

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Our website ranking of VML: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000VML1
Address: Kyle House Level 10, 27 Macquarie Place Sydney NSW 2000
Tel:  +61 2 8029 0676Fax: +61 2 8004 8241

Date first listed: 11/10/2005

Sector: Materials Industry Group: XMJ
Activities: Specialist tungsten and tungsten/molybdenum explorer and aspiring mine operator

News & Events

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The suspension of trading in the securities of Vital Metals Limited will be lifted immediately following the release by VML of an announcement regarding the completion of the Tranche 1 Subscription with Shenghe.

18/12/2023

The company releases a cleansing prospectus for the offer of up to 10,000 Shares in the capital of the Company at an issue price of $0.01 per Share to raise up to $100 (before expenses).

18/12/2023

The company releases a notice of application for quotation of securities.

18/12/2023

Vital Metals Limited completes the issue of 588,917,200 shares to Shenghe Resources (Singapore) Pte Ltd, a wholly-owned subsidiary of Shenghe Resources Holding Co., Ltd. at a subscription price of A$0.01 per share to raise approximately A$5.9 million. Shenghe joins Vital's register as a cornerstone investor with a 9.9% strategic position in the Company. Vital will sell its stockpiled rare earth material to Shenghe for approximately A$2.6 million. Vital is now funded to deliver into key milestones in 2024. Vital fully paid ordinary shares to be reinstated to official quotation on ASX and recommencement of trading to occur upon market open today.

18/12/2023

The voluntary suspension is requested pending an announcement with respect to completion of the Shenghe Resources Tranche 1 Subscription. The Company requests the voluntary suspension continue until it releases the announcement regarding the aforementioned, anticipated to be prior to commencement of trade on Monday, 18 December 2023.

14/12/2023

Rare earth systems specialist and professional geologist Dr Natalie Pietrzak-Renaud joins Vital Metals bringing more than 20 years of diversified geological expertise in the resources sector. She has a background in detailed rare earth system analysis and geological modelling, as well as metallurgical domain and material sorting analysis. Dr. Pietrzak-Renaud has acted in Vice President Exploration roles in both publicly-listed and private exploration and development companies within Canada and elsewhere across a range of commodities including rare earth elements. She completed her PhD in ore deposit modelling and geometallurgy, and also completed a post-doctorate in Rare Earth mineralogy at Western University, Ontario.

04/12/2023

The company releases a notification regarding unquoted securities.

29/11/2023

Tardiff drilling returns shallow high grades that remain open to the west, northwest and on the southern margins from 23 drill hole results completed in a 2023 resource definition drilling program (74 holes totaling 6,664 m). Latest results confirm Vital's contention for shallow higher-grade expansion potential, with future drilling focus to augment and de-risk the mineral resource. 2023 drilling focused on increasing confidence of the Tardiff Zones 1 and 3 resource definition and grade, by narrowing drilling spacing for resource conversion. Assay results from the remaining 34 holes are expected within 3 to 4 months; Mineral Resource Estimate update due Q1 CY24. Vital is focused on developing the large-scale Tardiff deposit, one of the largest single rare earths deposits in the western World, estimated to contain 416,000 tonnes of neodymium and praseodymium (NdPr). NdPr offers the largest value market within the lanthanide series of rare earths and provide essential components in the production of high strength rare earth magnets. Vital anticipates closing the recently announced financing and resuming trading on ASX shortly.

21/11/2023

The company releases the results of its AGM.

16/11/2023

The company releases its AGM Presentation.

16/11/2023

The company lodges its Quarterly Activities and Cash Flow Report.

31/10/2023

The company releases a notice of proposed issue of securities.

27/10/2023

Vital Metals Limited has entered into a subscription agreement with Shenghe Resources (Singapore) Pte Ltd, a wholly-owned subsidiary of Shenghe Resources Holding Co., Ltd., a global leader in the rare earth sector with experience across the entire value chain. Tranche 1 Subscription shares to be issued utilising the Company's available placement capacity under ASX Listing Rules 7.1 and 7.1A to provide immediate funding. The Tranche 2 Subscription shares will be issued subject to Shenghe exercising its option to complete the Tranche 2 Subscription and the Company's shareholders approving the issuance of shares under the Tranche 2 Subscription. Shenghe and Vital have agreed, subject to grant of a mining licence to Vital (or its controlled entity) and satisfaction of other conditions precedent, that Shenghe will acquire an initial 50% interest in the Wigu Hill Project, Tanzania. Vital to explore the development of an integrated North American supply chain for future rare earth production at Nechalacho, Canada.

27/10/2023

The company releases a notice of proposed issue of securities.

16/10/2023

The company's AGM will be held at 10.00am (AEDT) on 16 November 2023 at Level 5 56 Pitt Street, Sydney, NSW 2000 and virtually.

12/10/2023

The Company requests the voluntary suspension continue until it releases the announcement with respect to a material funding, anticipated to be prior to commencement of trade on Monday, 30 October 2023.

09/10/2023

The company lodges its Annual Report.

06/10/2023

The company releases its Appendix 4G and Corporate Governance Statement.

06/10/2023

To date, no resolution has been reached with REEtec on the proposed terms of an amended Offtake Agreement, nor has REEtec agreed to any other alternative. As a result of the failure to reach a negotiated solution, Vital issued a Notice of Termination under the Offtake Agreement, which was delivered to REEtec on 28 September 2023 (Australian time). The Offtake Agreement will terminate on 26 December 2023 "• the date that is 90 days following the delivery of the Notice of Termination. REEtec has indicated that it does not agree with Vital's assessment that it has suffered unfair hardship, nor does it consider the Notice of Termination to be valid. REEtec has therefore reserved its rights in that regard, which may include arbitration proceedings. Vital has reported its year-end financial position in the recent June Quarterly Report and will publish its 2023 Annual Report in the coming week. The Company continues to fund its activities in Canada and is in discussions with several parties to raise capital. The Company's securities will remain in voluntary suspension pending an announcement with respect to funding the next 12-18 months of activities.

29/09/2023

The Company requests the voluntary suspension continue until it releases the announcement with respect to finalising the Saskatoon Processing Facility Review and a material funding announcement, anticipated to be prior to commencement of trade on Monday, 9 October 2023.

25/09/2023

The company releases a notice of proposed issue of securities.

06/09/2023

The company has entered a short-term loan agreement with a syndicate of three lenders; Malekula Projects Pty Ltd, INVL Group Pty Ltd and Treasury Services Group Pty Ltd as trustee for the Nero Resource Fund, for A$2 million to fund continued development of the Tardiff rare earths deposit in Northwest Territories, Canada and for general working capital requirements.

06/09/2023

The voluntary suspension is requested pending an announcement with respect to finalising the Saskatoon Processing Facility Review and a material funding announcement. The Company requests the voluntary suspension continue until it releases the announcement referred to above, anticipated to be prior to commencement of trade on Monday, 25 September 2023.

04/09/2023

The voluntary suspension is requested pending an announcement with respect to finalising the Saskatoon Processing Facility Review and a material funding announcement. The Company requests the voluntary suspension continue until it releases the announcement referred to in item 1 above, anticipated to be prior to commencement of trade on Monday, 4 September 2023.

28/08/2023

The voluntary suspension is requested pending an announcement with respect to finalising the Saskatoon Processing Facility Review and a material funding announcement. The Company requests the voluntary suspension continue until it releases the announcement, anticipated to be prior to commencement of trade on Monday, 28 August 2023.

21/08/2023

The voluntary suspension is requested pending an announcement with respect to finalising the Saskatoon Processing Facility Review and a material funding announcement. The Company requests the voluntary suspension continue until it releases the announcement regarding the above, anticipated to be prior to commencement of trade on Monday, 21 August 2023.

14/08/2023

The voluntary suspension is requested pending an announcement with respect to finalising the Saskatoon Processing Facility Review and a material funding announcement. The Company requests the voluntary suspension continue until it releases the announcement referred to above, anticipated to be prior to commencement of trade on Monday, 14 August 2023.

07/08/2023

The company lodges its Quarterly Activities and Cash Flow Report.

31/07/2023

The voluntary suspension is requested pending an announcement with respect to finalising the Saskatoon Processing Facility Review. The suspension is also requested pending a material funding announcement. The Company requests the voluntary suspension continue until it releases the announcement, anticipated on 4th August 2023.

25/07/2023

The securities of Vital Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VML, pending the release of an announcement with respect to finalising the Saskatoon Processing Facility Review

20/07/2023

The suspension of trading in the securities of Vital Metals Limited will be lifted immediately, following the release by VML of an announcement regarding.

25/06/2019

Vital to acquire Cheetah Resources, an unlisted REE business currently run by ex Lynas management with substantial rare earth experience. Cheetah's business plan is to supply a high purity mixed rare earth feedstock to established thirdparty rare-earth oxide (REO) separation facilities and refiners, rather than end users. The plan has been designed to result in lower Capex and shortened lead times to production to capture the expected increase in demand for REOs. Cheetah has agreements in place to acquire two significant REO projects. Thor Lake Rare Earth Project (Canada) (acquire 100%, surface to 150m above sea level rights). Wigu Hill Project in (Tanzania) (purchase of rare earths Intellectual Property with project development and option agreement to acquire up to 74% by funding to a mining stage). Transaction fully funded by Vital (cash on hand of $14.6 million as at March 31 2019). Global demand for rare earths is growing on the back of demand for EV and clean power generation.

25/06/2019

The securities of Vital Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of VML, pending the release of an announcement regarding a material acquisition.

19/06/2019

securities reinstated to quotation

21/01/2010

securities suspended from quotation immediately, at the request of the Company, pending the release of an announcement by the Company

20/01/2010

securities to be reinstated to quotation on Monday 4 May

01/05/2009

the company is to team up with Aragon Resources Limited to take advantage of opportunities in tungsten mining in far North Queensland - Aragon, in a two part funding process, will become Vital's major shareholder and will provide its cash requirements of up to $936,250, for the medium term

15/04/2009

the company has been in advanced discussions with a number of parties to determine its future funding position - however those discussions have taken longer than anticipated - the finalisation of the 31 December 2008 financial statements is also dependant on the outcome of those discussions - the company does not have an exact date for finalisation of these matters - the market will be advised should these dates be determined

06/04/2009

securities suspended from quotation immediately, at the request of the Company, pending the release of an announcement by the Company

16/03/2009

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    02/07/2024Richard Crookes14,000,000$0.003$36,000
    28/06/2024Mike Brook833,333$0.003$2,083
    21/12/2023Geordie Mark15,000,000$0.006$85,671
    10/01/2023John Dorward5,755,858$0.022$124,877
    06/01/2023John Dorward5,010,767$0.021$105,837

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Richard CrookesChairman10/08/2022
    Geordie MarkManaging Director, CEO16/10/2023
    John DorwardCEO21/11/2022
    Eben VisserCOO11/11/2022
    Lara IacussoCFO23/10/2023
    Lisa RileyIndependent Director02/12/2022
    Mike BrookNon Exec Director08/05/2024
    Paul QuirkNon Exec Director10/08/2022
    Louisa MartinoCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    James HendersonNon Exec Director05/08/202008/05/2024
    Damon ColbertCFO23/09/202204/04/2023
    Evan CranstonNon Exec Chairman22/10/201915/02/2023
    Russell BradfordInterim CEO31/08/202221/11/2022
    Tony HadleyCOO04/03/202011/11/2022
    Louisa MartinoCFO01/07/202023/09/2022
    Geoff AtkinsManaging Director22/10/201931/08/2022
    Phillip CoulsonNon Exec Director07/01/201921/12/2020
    Francis HarperNon Exec Chairman15/05/201705/08/2020
    Zane LewisNon Exec Director06/02/201905/08/2020
    Peter CordinNon Exec Director07/09/200925/09/2019
    Mark StrizekManaging Director, CEO07/10/201124/01/2019
    Andrew SimpsonNon Exec Director23/02/200516/11/2018
    David MacoboyChairman05/01/201002/07/2018
    Ian HobsonCFO01/08/201217/11/2017
    Douglas StewartNon Exec Director30/05/201116/07/2013

    Date of first appointment, title may have changed.