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Vital Metals Limited (ASX:VML)

ALERT: Price-sensitive ASX Announcement for VML
Current share price for VML : $0.100 -0.01 (-9.09%)+
Announcement
Release
31 Jul 2026 8:52AM
Price at Release
$0.110
Full Release
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Summary
Vital Metals Limited reported on their activities for the quarter ending 30 June 2026, focusing on their Nechalacho Rare Earths and Niobium Project in Canada. The company completed a winter drill program, discovering extended mineralization beyond the current resource envelope at the Tardiff deposit and identifying potential gallium resources. They also advanced their Tardiff Pre-Feasibility Study and continued to explore processing options to generate near-term cash flow from the North T surface stockpile. Financially, they converted a convertible loan into equity, improving their balance sheet, and maintained a cash position of $3.8 million.
Key Points
  • Completed winter drill program at Tardiff with extended mineralization.
  • Identified new gallium potential across eastern and western zones.
  • Advanced Tardiff Pre-Feasibility Study with new resource estimates.
  • Converted A$1 million convertible loan into equity, enhancing balance sheet.
  • Maintained a cash position of $3.8 million at quarter end.
  • Exploring processing options for North T surface stockpile to generate cash flow.
  • David Herlihy appointed as Non-Executive Director, strengthening the board.
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.