Here’s why the Vital Metals (ASX:VML) share price is flying today

It’s been an encouraging week for the rare earth miner.
The post Here’s why the Vital Metals (ASX:VML) share price is flying today appeared first on The Motley Fool Australia. –

The Vital Metals Limited (ASX: VML) share price has been busy this past week.

Shares in the rare earth miner have soared more than 30% since last Monday.

Vital Metals continued the positive momentum today, after releasing a promising update.

Here’s what the company had to announce.

Vital Metals share price surges on US capital markets expansion

The Vital Metals share price has surged today after the company announced its intention to expand into US capital markets.

In its market update, the company informed shareholders that it has engaged a consulting and advisory service.

To that end, Vital Metals noted it has signed an agreement with Ecoban Securities Corporation, specifically with its listing arm Tectonic.

The agreement will see Tectonic serve as the company’s North American investor relations and capital markets consultant and advisor.

Under the agreement, Tectonic will perform a range of services for the promotion and management of securities in Vital Metals.

Vital Metals informed investors that expansion into US capital markets follows the success of its operations at its Nechalacho rare earth project in Canada’s Northwest Territories.

As part of the agreement, the company will issue 10,000,000 3-year unlisted options to Tectonic.

These options will have an exercise price of $0.07 and are subject to various vesting conditions being met.

Tectonic will be familiar to many Vital Metals shareholders. The company assisted the rare earth miner with its $43 million capital raise earlier this year.

More on Vital Metals

Vital Metals is a mining explorer and developer focusing on rare earths, technology metals and gold projects. The company’s flagship projects include the Nechalacho Rare Earth Project and its Wigu Hill project in Tanzania.

Last week, Vital Metals provided a couple of updates on its Nechalacho project.

Last Tuesday, the company first reported outstanding first-pass assay results from the project. Vital Metals highlighted thick zones of mineralisation with total rare earth oxides (TREO) grades above 2%.

This was followed by a production update late last week.

Vital Metals noted that drilling results had intersected high-grade rare earth oxide (REO) mineralisation in the northern wall of the Nechalacho project.

As a result, the company highlighted the potential expansion of the pit beyond the existing mine plan.

At the time of writing, the Vital Metals share price is trading more than 5% higher at 6.1 cents.

Shares in the rare earth miner were up more than 8% earlier, having hit an intra-day high of 6.3 cents.

The post Here’s why the Vital Metals (ASX:VML) share price is flying today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Vital Metals (ASX:VML) share price leaps 6% on production update
Here’s why the Vital Metals (ASX:VML) share price is flying higher today

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!