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Victory Goldfields Limited ( (AU:VTM) ) just unveiled an announcement.
Victory Goldfields Limited has secured a US$10 million loan facility from Sanabil Investments LLC, a sovereign investment firm owned by Saudi Arabia’s Public Investment Fund. This funding aligns with Saudi Arabia’s Vision 2030 and will be used to fast-track the North Stanmore Project, enhancing Victory’s financial position and industry standing. The loan includes a 2-year moratorium on interest payments and a 3.9% interest rate thereafter, with Sanabil having the first right to provide future funding for the project’s development and construction.
More about Victory Goldfields Limited
Victory Goldfields Limited operates in the heavy rare earths industry, focusing on exploration and development of critical minerals. The company is advancing its North Stanmore Project as a strategic source of rare earths for global supply chains.
Average Trading Volume: 325,025
Technical Sentiment Signal: Buy
Current Market Cap: A$95.32M
Find detailed analytics on VTM stock on TipRanks’ Stock Analysis page.