Australia's Victory Metals soars on LOI from US government

Victory Metals

23/04/2025 03:32

** Shares of mineral explorer Victory Metals VTM.AX rise 11.4% to A$0.490, their highest level since November 5

** Co receives Letter of Intent (LOI) from the Export-Import Bank of the U.S. for up to $190 million for development of VTM's North Stanmore Heavy Rare Earths, Scandium and Hafnium Project in Western Australia

** Stock on track for sixth consecutive session of gains

** About 812,600 shares traded in stock's busiest session since December 17

** Stock up ~21% YTD, including current session's moves

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))