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VHM (VHM) investor relations material
VHM Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Entered LOI with Mitsui for offtake of 40% of heavy mineral concentrate from Goschen Project.
Received LOI from US EXIM Bank for up to US$200 million in project financing for Goschen.
Achieved EPBC Act approval for Goschen, a major regulatory milestone.
Final Investment Decision (FID) for Goschen now expected in 1H 2026 due to regulatory and market timing.
Appointed Andrew King as CEO and Ben McCormick as CFO, effective 1 October 2025.
Financial highlights
Held $5.0 million in cash at quarter end.
Net cash used in operating activities was $1.32 million for the quarter.
Net cash used in investing activities was $1.74 million, mainly for exploration and evaluation.
Estimated 1.68 quarters of funding available at current expenditure rates.
Outlook and guidance
FID for Goschen Project anticipated in 1H 2026, with financing closure delayed due to regulatory approval timing and market conditions.
Strong engagement with potential offtake partners and government agencies for funding support.
Confident in ability to raise additional capital if required.
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