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VHM Limited
(Sydney:VHM)
VHM Limited (VHM) vs. iShares MSCI Australia ETF (EWA)
VHM Limited Business Overview & Revenue Model
VHM Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.00K | 5.00K | 23.00K | 110.00K | 0.00 | 0.00 |
| Gross Profit | -207.00K | 5.00K | 23.00K | -169.00K | -125.75K | -153.59K |
| EBITDA | -5.46M | -5.46M | -5.72M | -13.18M | -6.59M | -5.17M |
| Net Income | -6.43M | -6.43M | -7.15M | -17.92M | -9.15M | -6.59M |
Balance Sheet | ||||||
| Total Assets | 74.45M | 74.45M | 70.09M | 78.77M | 63.26M | 38.99M |
| Cash, Cash Equivalents and Short-Term Investments | 8.10M | 8.10M | 6.25M | 20.65M | 24.37M | 10.87M |
| Total Debt | 1.63M | 1.63M | 767.00K | 1.02M | 34.42M | 4.16M |
| Total Liabilities | 10.31M | 10.31M | 11.71M | 14.01M | 45.91M | 14.71M |
| Stockholders Equity | 64.14M | 64.14M | 58.38M | 64.76M | 17.34M | 24.28M |
Cash Flow | ||||||
| Free Cash Flow | -11.37M | -9.78M | -14.62M | -34.53M | -16.53M | -9.04M |
| Operating Cash Flow | -5.19M | -5.19M | -5.65M | -12.01M | -3.99M | -4.34M |
| Investing Cash Flow | -4.59M | -4.59M | -7.74M | -20.19M | -10.40M | -2.13M |
| Financing Cash Flow | 12.60M | 11.85M | -1.01M | 26.96M | 27.88M | 17.02M |
VHM Limited Technical Analysis
VHM Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$187.22M | ― | -27.95% | ― | ― | -43.08% | |
46 Neutral | AU$167.81M | ― | -36.29% | ― | ― | -166.67% | |
45 Neutral | AU$150.32M | -19.80 | -10.49% | ― | ― | 16.52% | |
41 Neutral | AU$274.70M | ― | -111.27% | ― | ― | 66.10% | |
37 Underperform | €37.86M | -9.13 | -7.25% | ― | ― | 78.30% | |
35 Underperform | AU$14.81M | ― | -121.65% | ― | ― | -100.21% |
VHM Limited Corporate Events
VHM Limited has announced a Share Purchase Plan (SPP) for eligible shareholders in Australia and New Zealand, aiming to raise approximately A$1.0 million. The SPP allows shareholders to purchase new shares at a discounted price of A$0.35 per share, matching the recent placement price. The funds from the SPP, along with A$10.3 million raised from a placement, will support the Goschen Project’s early engineering works, land acquisition, and operating costs. This initiative reflects VHM’s strategic efforts to advance its project development and strengthen its financial position.
VHM Limited has announced the issuance of 29,534,321 fully paid ordinary shares at $0.35 each to institutional investors. This move, which was initially announced on November 21, 2025, aims to bolster the company’s capital base. The company has confirmed compliance with relevant provisions of the Corporations Act and stated there is no excluded information that needs to be disclosed, ensuring transparency and adherence to regulatory standards.
VHM Limited has announced the quotation of 29,534,321 ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of a transaction previously announced and aligns with the company’s strategic efforts to enhance its market presence. The issuance of these securities is expected to impact the company’s operations by potentially increasing its capital base, thereby supporting its growth initiatives and strengthening its position within the industry.
VHM Limited has successfully completed a fully-underwritten institutional placement, raising approximately A$10.3 million through the issuance of 29.5 million new shares at a price of A$0.35 per share. The proceeds will be used to support the Goschen Project’s early engineering works, land acquisition, and operating costs as the company moves towards a Final Investment Decision in the first half of 2026. Additionally, VHM is offering a Share Purchase Plan to eligible shareholders in Australia and New Zealand to raise up to A$1.0 million, allowing them to purchase new shares at the same placement price.
VHM Limited has announced an equity raising initiative involving an underwritten placement of new fully paid ordinary shares to institutional investors and a non-underwritten share purchase plan for eligible shareholders. This move aims to strengthen the company’s financial position and support its strategic objectives, potentially impacting its market standing and offering opportunities for stakeholders to participate in the company’s growth.
VHM Limited has announced a proposed issue of securities, involving the issuance of 2,857,142 ordinary fully paid securities under a securities purchase plan, with the record date set for November 20, 2025, and the offer closing on December 12, 2025. Additionally, the company plans to issue 29,534,321 ordinary fully paid securities through a placement, with the proposed issue date being November 27, 2025. This move is likely aimed at raising capital to support the company’s operations or strategic initiatives, potentially impacting its market position and stakeholder interests.
VHM Limited announced a fully-underwritten institutional placement to raise approximately A$10.3 million and an additional share purchase plan targeting up to A$1.0 million. The funds will support early engineering, procurement, and land acquisition for the Goschen Project, with a final investment decision expected in the first half of 2026. The project has received indicative long-term funding support from the Export-Import Bank of the United States and Export Finance Australia, highlighting its importance in global supply chains. This financial move positions VHM to advance the Goschen Project, aiming to deliver a Tier 1 rare earth and mineral sands project.
VHM Limited has requested a trading halt on its securities, pending an announcement related to a proposed equity capital raising. This halt will remain in place until either the announcement is made or normal trading resumes on November 25, 2025. The halt is intended to facilitate the capital raising process, which could have significant implications for the company’s financial strategy and market positioning.
VHM Limited held its 2025 Annual General Meeting where several resolutions were put to vote. Key resolutions included the adoption of the remuneration report, ratification of prior share issues to Bulk Commodity Holdings, adoption of an equity incentive plan, and the re-election of Ian Smith as a director. All resolutions were carried, indicating strong shareholder support for the company’s strategic decisions and governance.
VHM Limited has achieved significant milestones for its Goschen Project, securing all primary project approvals, including environmental and cultural heritage endorsements, which de-risk the project as it moves towards construction. The company has also advanced its financing strategy with support from Export Finance Australia and the U.S. Export-Import Bank, reflecting strong governmental confidence. These developments align with global strategic interests in diversified rare earth supply, particularly amid geopolitical tensions affecting the sector. VHM’s strengthened executive team is poised to lead the company through the next phases of project funding and development, ensuring the project’s role in regional investment and employment.
VHM Limited has received approval for the Cultural Heritage Management Plan for its Goschen Project, marking a significant milestone in its development. This approval allows VHM to proceed with formalizing its Work Plan, advancing the project towards development while maintaining a commitment to cultural heritage protection and stakeholder collaboration. The approval aligns with regulatory and community expectations, supporting VHM’s strategic efforts to develop a globally significant rare earth and mineral sands project.
VHM Limited issued a correction to its previous announcement regarding updates to its global resources and reserves. The corrections, detailed in an annexure, do not materially affect the information initially disclosed, ensuring stakeholders that the changes are primarily clarifications and amendments to specific sections and tables.
VHM Limited has released a presentation regarding its Goschen Rare Earths & Mineral Sands project. The presentation emphasizes that it is not intended as an investor presentation and contains forward-looking statements that involve risks and uncertainties. The company disclaims any obligation to update these statements, highlighting potential impacts from factors such as regulatory changes, economic conditions, and geopolitical tensions.
VHM Limited has secured non-binding and conditional support from Export Finance Australia and the Export-Import Bank of the United States, amounting to potential financing of up to A$75 million and US$200 million respectively, for the development of the Goschen Rare Earths and Mineral Sands Project. This support underscores the project’s strategic importance in diversifying global rare earth supply and enhancing downstream value creation, while aligning with mutual interests in critical minerals supply and economic security.
VHM Limited has announced the cessation of certain securities, specifically 846,774 options that were set to expire on November 7, 2029. These securities have lapsed due to the conditions for their issuance not being met or becoming incapable of being satisfied, which may impact the company’s capital structure and investor relations.
VHM Limited has announced a change in the interests of its director, Ronald Douglas, in the company’s securities. The change involves the expiry of 846,774 ZEPOs, leaving Douglas with 500,000 unlisted options and 489,829 fully paid ordinary shares. This adjustment in holdings does not involve any new acquisitions or disposals beyond the expiry, indicating a shift in the director’s investment strategy or the company’s financial structuring.
VHM Limited has announced its 2025 Annual General Meeting, scheduled for November 18, 2025, to be conducted as a hybrid meeting both in-person and virtually. This announcement, approved by the Board of Directors, includes the Notice of Annual General Meeting, Proxy Form, and Notice and Access Letter, indicating the company’s commitment to transparency and shareholder engagement.
VHM Limited, a company listed on the ASX, has issued 3,175,000 fully paid ordinary shares as part of its Investment Agreement with Bulk Commodity Holdings, LLC. This issuance was conducted without disclosure under Part 6D.2 of the Corporations Act, and the company has confirmed compliance with relevant legal provisions, ensuring transparency and adherence to regulatory requirements.
VHM Limited has announced the quotation of 3,175,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of October 15, 2025. This move is part of a previously announced transaction, and it reflects the company’s ongoing strategy to enhance its market presence and provide value to its stakeholders.
VHM Limited has announced an updated Exploration Target for its Goschen tenements, highlighting the potential scale and strategic importance of this rare earth and mineral sands province. The new target estimates a range of 1.5 billion to 4.0 billion tonnes with a Total Heavy Mineral (THM) grade between 2.2% and 3.5%, translating to 50Mt to 90Mt of THM. This development positions Goschen as a promising long-life mineral sands project with diversified revenue streams and low sovereign risk due to its location in Victoria, Australia. The update builds on previous estimates and incorporates new drilling data, enhancing the geological and mineralogical understanding of the area. This expansion is expected to extend the production horizon and align with global demand for critical minerals, benefiting stakeholders through potential growth in resource base and strategic market positioning.
VHM Limited has updated its Mineral Resource and Ore Reserve estimates for the Goschen Project, confirming its status as one of Australia’s largest undeveloped mineral sands and rare earths projects. The update reflects a more conservative estimation methodology, particularly in Area 1, which derisks the mine plan and retains potential upside. The current 20-year mine plan exploits less than half of the defined ore reserves and a small fraction of total mineral resources, indicating significant potential for future growth. This update aligns with industry best practices and supports VHM’s strategic positioning in the global market for critical minerals.
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.
VHM Limited has received a Letter of Interest from the Export-Import Bank of the United States for up to US$200 million in project financing for its Goschen Project. This support underscores the project’s strategic importance to U.S. supply chain resilience and positions VHM as a significant player in the critical minerals market. The financing aligns with U.S. initiatives to enhance supply chain security and competitiveness, potentially qualifying under EXIM’s programs aimed at countering export support from other countries. VHM’s engagement with Export Finance Australia and EXIM through the Single Point of Entry framework further facilitates the project’s advancement, enhancing its role in addressing critical minerals supply chain challenges.
VHM Limited, a company listed on the Australian Securities Exchange, has issued 1,176,471 fully paid ordinary shares as part of its Investment Agreement with Bulk Commodity Holdings, LLC. This issuance was conducted without disclosure to investors under Part 6D.2 of the Corporations Act, and the company has confirmed compliance with relevant provisions of the Corporations Act, ensuring transparency and adherence to regulatory standards.
VHM Limited has announced the application for quotation of 1,176,471 ordinary fully paid securities on the Australian Securities Exchange (ASX), with the issue date set for September 29, 2025. This move is part of a transaction previously announced to the market, reflecting VHM Limited’s ongoing efforts to enhance its market presence and potentially increase its capital base, which could have implications for its stakeholders and industry positioning.
VHM Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement confirms that the company has followed the ASX Corporate Governance Council’s recommendations, ensuring transparency and accountability in its management and operations.
VHM Limited’s 2025 Annual Report highlights the company’s operational and financial performance for the year ending June 30, 2025. The report includes key insights into project summaries, asset overviews, sustainability efforts, funding and offtake agreements, market outlook, exploration activities, and mineral resources and ore reserves. These elements provide a comprehensive view of VHM Limited’s strategic initiatives and market positioning, offering stakeholders a detailed understanding of the company’s current status and future prospects.
VHM Limited has secured EPBC approval for its Goschen Rare Earths and Mineral Sands Project, marking a significant regulatory milestone. This approval allows the company to proceed with final design, construction planning, and operational readiness activities. With both State and Federal environmental approvals in place, VHM is advancing towards a Final Investment Decision by finalizing strategic off-take agreements and financing. The project is set to produce high-grade rare earths and heavy minerals, positioning VHM as a significant player in the resource industry and supporting Australia’s low-carbon transition.