14 March 2025
Vital Metals Limited (ASX: VML), an advanced stage exploration/development rare earths company, advises it has entered a 12-month convertible loan agreement for A$1 million and has formed a Canadian Strategic REE Consortium with industry expertise. Vital is currently completing a Scoping Study for its Tardiff deposit in Northwest Territories, Canada, examining the potential size and scalability of rare earths and niobium recovery from the deposit.
Tardiff has a MRE of 192.7 million tonnes at 1.3% total rare earth oxide (TREO) and 0.3% niobium, containing 636,000 tonnes of NdPr (neodymium oxide + praseodymium oxide) and 578,000 tonnes of Nb2O5 1 . As it finalises the Scoping Study, including undertaking additional further niobium testwork, the Company has secured a A$1 million loan. Asia Pacific Holdings Limited, a private investor and current Vital shareholder, is the Lender. Terms of the convertible loan agreement are found in the full release.
Vital Metals’ Managing Director Lisa Riley said: “As we finalise our Scoping Study for Tardiff with the inclusion of niobium recovery, we are pleased to have secured this $1M loan to support our work towards Tardiff’s development. This funding demonstrates support from a shareholder and their confidence in our plans for Tardiff and our ability to execute our strategy, helping to build Canada’s critical minerals supply chain.”
Strategic Research Consortium - Accelerating the Canadian Rare Earth Supply Chain Industrial (mining) partners Appia Rare Earths & Uranium Corp., Commerce Resources, Defense Metals, and Vital Metals, along with March Consulting Associates Inc. and the mineral processing innovation centre Corem, are announcing the creation of a strategic research consortium dedicated to rare earth elements. This collaborative initiative is designed to accelerate the establishment of a national rare earth elements industry, thereby reinforcing Canada’s strategic role in this key sector supporting the development of advanced technologies. Its creation will also contribute to the socio-economic development of northern communities. This consortium will implement a collaborative approach aimed at optimizing the extraction and processing of rare earth elements through technological innovation. This initiative promotes sharing the know-how and expertise of players in the value chain, pooling state-ofthe-art, agile and flexible pilot laboratories, and the creation of collective innovation to accelerate the development of promising Canadian mining projects.