Australia's VHM climbs on Iluka Resources offtake deal, A$40 mln funding

VHM

02/07/2026 04:08

** Shares of VHM VHM.AX jump as much as 76.1% to A$0.405, marking their best session ever
** Hits highest level since March 5
** Mineral sands and rare earth co enters a long-term strategic partnership with Iluka Resources comprising a binding offtake agreement and a A$40 million ($27.58 million) convertible note funding
** Convertible note funding is for Goschen Rare Earths and Mineral Sands Project in Victoria
** About 5.5 million shares change hands, 13.8 times the 30-day avg
** Down ~17% YTD, including the session's moves
     
($1 = 1.4501 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)
 ((anjali.singh2@thomsonreuters.com;))