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 north-west Victoria. 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 (FID) 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 project. Pending FID, first production for Goschen is targeted in 2025.
VHM has already defined one of Australia’s largest, rare earths mineral inventories with Goschen and nearby Cannie critical minerals projects combined. VHM 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 Company’s total resources inventory currently sits at 820 million tonnes with a Total Rare Earth Oxide (TREO) + Yttrium resource inventory of 589,000 tonnes.
* 22 September 2023 (AUD)