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VHM Limited (ASX:VHM)

ALERT: Price-sensitive ASX Announcement for VHM
Current share price for VHM : $0.205 -0.265 (-56.38%)+
Announcement
Release
21 Nov 2025 9:42AM
Price at Release
$0.470
Full Release
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Summary
VHM Limited is conducting an equity raising to support the development of the Goschen Project, involving an institutional placement of $10.3 million and a share purchase plan (SPP) to raise up to $1.0 million. This effort is fully underwritten by Jarden Australia and aims to fund early engineering, land acquisition, and operations to reach a final investment decision in the first half of 2026. The placement offers a significant discount on the company's last closing share price, while new shares will rank equally with existing ones. Additionally, VHM is securing project financing support from US and Australian governments as part of its long-term funding strategy.
Key Points
  • VHM Limited is undertaking an equity raising involving an underwritten institutional placement and a non-underwritten share purchase plan.
  • The placement aims to raise $10.3 million by issuing approximately 29.5 million new shares at $0.35 each.
  • The share purchase plan (SPP) targets raising up to $1.0 million, offering eligible shareholders new shares at the same price.
  • Proceeds will be used for Goschen early engineering works, land acquisition, and operating costs to reach the final investment decision by the first half of 2026.
  • The placement is fully underwritten by Jarden Australia Pty Ltd.
  • New shares from the placement and SPP will rank equally with existing shares.
  • VHM has received letters of interest and support for significant project financing from the US and Australian governments.
  • The equity raising is part of a broader strategy to secure long-term funding and offtake agreements.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.