VHM Limited Addresses ASX Query on Project Financing LOI

VHM Limited ( (AU:VHM) ) has shared an update.

VHM Limited responded to a query from the ASX regarding a Letter of Intent (LOI) received from EXIM for up to US$200 million in project financing for its Goschen Rare Earths and Mineral Sands Project. The company stated that the LOI is non-binding and subject to due diligence, thus not expected to materially affect its securities’ price. VHM clarified that the delay in announcing the LOI was due to required approvals from EXIM and Export Finance Australia, which were impacted by a US government furlough.

The most recent analyst rating on (AU:VHM) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on VHM Limited stock, see the AU:VHM Stock Forecast page.

More about VHM Limited

VHM Limited operates in the mining industry, focusing on the development of rare earths and mineral sands projects. The company is engaged in the Goschen Rare Earths and Mineral Sands Project located in Victoria, Australia.

Average Trading Volume: 324,866

Technical Sentiment Signal: Buy

Current Market Cap: A$94.72M

For detailed information about VHM stock, go to TipRanks’ Stock Analysis page.