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The latest update is out from Victory Goldfields Limited ( (AU:VTM) ).
Victory Metals has signed a strategic Memorandum of Understanding with Sumitomo Corporation, a Fortune Global 500 company, for the offtake of 30% of its annual Mixed Rare Earth Carbonate production from the North Stanmore Heavy Rare Earth Project. The company has upgraded its Mineral Resource Estimate to 247.5 million tonnes with high-grade zones indicating significant potential for growth and development in the rare earth sector. This agreement and resource upgrade enhance Victory’s industry positioning and offer promising implications for stakeholders, underscoring its robust growth potential in the critical rare earth market.
More about Victory Goldfields Limited
Victory Metals Limited operates in the mining industry, focusing primarily on the extraction and production of rare earth elements. The company’s key project, North Stanmore, is located in Western Australia and is rich in heavy rare earth elements (HREE), which are crucial for various high-tech and industrial applications.
YTD Price Performance: -7.41%
Average Trading Volume: 181,573
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$40.69M
For detailed information about VTM stock, go to TipRanks’ Stock Analysis page.
