Victory Goldfields Limited ( (AU:VTM) ) has shared an announcement.
Victory Metals Limited has delivered a robust Scoping Study for its North Stanmore Project, confirming its status as a world-class heavy rare earth and scandium project with strong economic potential. The project has an upgraded Mineral Resource Estimate of 247.5 million tonnes, and recent developments include a non-binding MOU with Sumitomo Corporation for an offtake agreement. The company is well-funded with $4.68 million in cash, and the project’s strategic positioning is further strengthened by China’s new export controls on key rare earth elements, which could impact global supply dynamics.
More about Victory Goldfields Limited
Victory Metals Limited operates in the mining industry, focusing on the extraction and development of rare earth elements and scandium. The company is primarily engaged in the North Stanmore Project in Western Australia, a significant heavy rare earth and scandium clay project. This project is strategically positioned to supply critical minerals for high-growth sectors such as renewable energy, electric vehicles, and defense.
YTD Price Performance: -4.94%
Average Trading Volume: 127,670
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$42.16M
Learn more about VTM stock on TipRanks’ Stock Analysis page.