Congratulations to Vital Metals (ASX: VML) on securing a A$5.9m investment from Shenghe Resources Holding Co. Ltd. for a 9.9% strategic position in the Company. Shenghe is a global leader in the rare earth sector with experience across the entire value chain. Vital will also sell its stockpiled rare earth material to Shenghe for ~A$2.6m.

Vital is now well funded to deliver into key milestones in 2024, including: MRE update for Nechalacho Rare Earth Project and Scoping Study for Tardiff.

The CEO of Shenghe, Wang Xiaohui, commented: “Shenghe recognises the potential of the Tardiff deposit to be a world-class, large-scale and long life rare earths project, and is excited by the work completed to date by Vital Metals to progress the asset.”

Ashanti Capital is pleased to have acted as financial adviser to Vital Metals. Steinepreis Paganin Lawyers and Consultants acted as legal adviser to Vital Metals.