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Asia

VHM Secures AU$5 Million Through Fully Underwritten Institutional Placement

VHM (ASX:VHM) has secured commitments to raise AU$5 million through a fully underwritten institutional placement, issuing around 19.2 million new shares at AU$0.26 each, with capacity to expand to around 24.6 million shares, according to a Tuesday Australian bourse filing.The placement is priced at about a 19% discount to the five-day volume-weighted average price, with the new shares ranking equally with the existing ordinary shares, the filing said.The proceeds will be used to support early engineering work at Goschen, secure long-lead items, and cover operating costs as the company finalizes offtake and financing agreements ahead of a planned final investment decision in mid-year, the filing added.

ASX:VHM
Asia

Export Finance Australia, US Export-Import Bank Issue Letters of Up to $500 Million Each for Ardea's Western Australia Nickel Project

Export Finance Australia (EFA) and the US Export-Import Bank (EXIM) issued letters of support/interest of up to $500 million each for Ardea Resources' (ASX:ARL) Kalgoorlie nickel project in Western Australia after Australia's Minister for Resources and Northern Australia Madeleine King and the US Secretary of the Interior Doug Burgum agreed on priority critical minerals and rare earths projects under the two countries' bilateral Critical Minerals Framework, according to a Monday statement.The critical minerals include nickel, cobalt, gallium, magnesium, vanadium, and graphite.Other projects supported under the framework include Alcoa (ASX:AAI) Gallium recovery project in Western Australia, Arafura Rare Earths's (ASX:ARU) Nolans rare earths project in the Northern Territory, Astron's (ASX:ATR) Donald rare earths project in Victoria, Northern Minerals' (ASX:NTU) heavy rare earths project in Western Australia, VHM's (ASX:VHM) Goshen rare earths project in Victoria, and EQ Resources' (ASX:EQR) Mt Carbine tungsten project in Queensland.Ardea's shares were up over 2% in recent trading on Monday, while those of Astron rose nearly 1%. Shares of Alcoa fell 1%, Arafura fell 1%, VHM declined 5%, and those of EQ Resources decreased 9%.

ASX:AAIASX:ARLASX:ARUASX:ATRASX:EQRASX:NTUASX:VHM