From 2014 to 2022 the Company progressively acquired, through pegging, over 6,336km2 of near-contiguous tenements making it one of Victoria’s largest mineral sands claim holders. Its current holding (following the VPM Demerger) is 2,860km2.
The Company undertook its first significant seed capital raising in September 2016 to fund initial historical drill data analysis obtained by previous tenement holders to prepare the 2017 Mineral Resource estimate in EL5520 (which is now RL006806).
From 2018 to 2022, a number of wholly owned subsidiaries were incorporated for the purpose of acquiring freehold land on which the Goschen Project is situated. Those land acquisition contracts are binding, but yet to settle (with long dated and flexible settlement arrangements).
Since May 2018, the Company has conducted a number of seed capital raisings to fund exploration activity at the Goschen Project and toward progressing an assessment in relation to the Proposed Operation (Phase 1) and consideration of the merits of the Hydromet Circuit (Phase 1A), which would provide further downstream processing opportunities. The Company has now spent approximately $45 million in aggregate on the Goschen Project and contiguous licences.
It is anticipated that VHM will list on the ASX during January 2023.
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