Vital Metals

Vital Metals (ASX:VML) is a rare earth exploration and development company focused on its Nechalacho project in Canada's northwest territories. The company is exploring for REE, specifically neodymium and praseodymium, which are crucial components in permanent magnets used in electric vehicles, wind turbines, and other clean energy technologies.

Vital Metals' key asset is the Tardiff deposit at Nechalacho, which hosts a large-scale resource of 119 million tonnes at 1.4% TREO (total rare earth oxides). The company completed 6,664 meters of drilling at Tardiff in 2023 and is working on scoping-level studies for the development of the deposit.

Vital Metals is focused on advancing the project to production to help enable a North American rare earth supply chain. Working collaboratively with partners, including cornerstone investor Shenghe and government agencies, Vital Metals aim for further exploration drilling, updated resource estimates, trade-off studies, and permitting to progress its assets toward a definitive feasibility study, financing, and construction for REE production.