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VML, VITAL METALS LIMITED
blacksheep
post Posted: Jul 1 2019, 08:34 PM
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Received a please explain SP /volume movement - see below - prior to the company's announcement - Vital to Transform into Rare Earth Oxide Developer. Evan Cranston - Tolga Kumova's mate in several mining ventures - is to take up a Board position, as is Geoff Atkins (former Corporate Planning Manager, Lynas Corporation). No sign of TK on the register as yet. One bright note with this transaction is it doesn't require immediate CR - VML has approx $14.6 mil in kitty from the sale of it's Watershed Tungsten Project in July 2018. Capital structure .......

Ordinary fully paid shares (VML) 1,742,611,288

2.0 cent options expiring 30 April 2021 50,000,000
2.3 cent options expiring 30 April 2021 27,000,000
1.0 cent options expiring 17 November 2021 25,000,000
1.2 cent options expiring 14 November 2019 28,931,825

The above does not include the issue of shares to the vendors of this deal... No doubt there will be "consolidation" when the deal goes through

QUOTE
Key Terms of the Acquisition:
Consideration:

Vital has agreed to acquire 100% of the issued capital of Cheetah for the consideration outlined below. The
consideration is subject to shareholder approval and is comprised of the following:
• issue of 400,000,000 fully paid ordinary shares (“Ordinary Shares”) on completion;
• issue performance shares comprised of the following:
(i) 400,000,000 Tranche 1 Performance Shares which will convert into Ordinary
Shares in the Company on entering into binding offtake for a minimum of
1,000 kgs of contained REO in respect of the Thor Lake Project or Wigu Hill
Project within 2 years of the Acquisition completion date; and
(ii) 400,000,000 Tranche 2 Performance Shares which will convert into Ordinary
Shares in the Company on commencement of mining operations at the Thor
Lake Project or Wigu Hill Project.
(together, the “Performance Shares”)
Vital will separately seek confirmation from ASX with respect to the Performance Share terms.



QUOTE
Highlights
• Vital to acquire Cheetah Resources, an unlisted REE business currently run by ex Lynas management
with substantial rare earth experience
• Cheetah’s business plan is to supply a high purity mixed rare earth feedstock to established thirdparty rare-earth oxide (REO) separation facilities and refiners, rather than end users. The plan has
been designed to result in lower Capex and shortened lead times to production to capture the
expected increase in demand for REOs
• Cheetah has agreements in place to acquire two significant REO projects
• Thor Lake Rare Earth Project (Canada) (acquire 100%, surface to 150m above sea level rights)
â–ª Mining leases, environmental and water approvals granted
â–ª Environmental permit and water licence in progress
â–ª NI 43-101 defined Indicated and Inferred Resource
â–ª The Nechalacho Property, of which the Thor Lake Project is a part has been the
subject of over $100M investment by Avalon Advanced Materials
â–ª Exploration potential to increase resource however initial focus will be on its high
grade core
• Wigu Hill Project in (Tanzania) (purchase of rare earths Intellectual Property with project
development and option agreement to acquire up to 74% by funding to a mining stage)
â–ª NI 43-101 defined resource with significant upside potential from identified
mineralised zones
â–ª Mining and Prospecting Licence application submitted with local company
• Transaction fully funded by Vital (cash on hand of $14.6 million as at March 31 2019)
• Highly experienced board and management with Geoff Atkins (former Corporate Planning
Manager, Lynas Corporation) and Evan Cranston (Chairman of New Century Resources),are joining
the board
• Cheetah also retains the services of a number of ex Lynas management responsible for the
development of its Mt Weld project and the successful operation of the LAMP in Malaysia
• Global demand for rare earths is growing on the back of demand for EV and clean power generation
• Acquisition subject to due diligence, shareholder and regulatory approvals

QUOTE
Vital Metals Limited (“VML”): Aware Query
ASX refers to the following:
A. The change in price of VML’s securities from a low of $0.011 at close on Friday, 14 June 2019, to a high of
$0.0135 prior to the Trading Halt (defined below) on Monday, 17 June 2019, and the significant increase in
the volume of VML’s securities traded between 14 June 2019 and 17 June 2019 prior to the Trading Halt.

B. The pause in trade of VML’s securities released on ASX’s Market Announcements Platform (“MAP”) at
12.01 pm AEST on Monday, 17 June 2019, and the trading halt request that same day, released on MAP at
12.25 pm AEST (“Trading Halt”).

C. VML’s announcement entitled “Vital to Transform into Rare Earth Oxide Developer” lodged on MAP and
released at 09:55 AM AEST on 25 June 2019 (the “Announcement”), disclosing, among other things, that
VML has entered into a binding term sheet to acquire Cheetah Resources Pty Ltd (“Information”).

D. Listing Rule 3.1, which requires a listed entity to immediately give ASX any information concerning it that a
reasonable person would expect to have a material effect on the price or value of the entity’s securities.


Will the current buoyant REE sentiment continue or will it fizzle out? Time will tell
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
crystal
post Posted: Aug 1 2009, 02:39 PM
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In Reply To: EMD's post @ Apr 19 2008, 10:07 PM

bit of upward movement from the swamp ,not for me yet unsure.gif

mick

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EMD
post Posted: Apr 19 2008, 10:07 PM
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Anyone still around?

Still happily holding.

 
EMD
post Posted: Feb 26 2008, 09:03 PM
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Trading halt was in respect of announcement re Wetershed infill drilling. Some very nice intercepts, especially in the northern zone.

Updated resource statement should be nice reading.....not too long to wait now.

 
EMD
post Posted: Feb 25 2008, 03:30 PM
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In reply to: onefineday on Monday 25/02/08 03:10pm

For me, VML is all about Watershed. Until I see some favourable drill desults for Mt. Mulgine, I'm not ascribing any value to that operation (nor Mt. Alexander).

I am amazed at how little interest there is in VML....it must be the 'tungsten thing'...

Options package for the new MD....not a huge hurdle for sure. I'm expecting that Andy will be quite happy with the exercise prices, if the share price goes anywhere close to what I'm looking for over the next couple of years. rolleyes.gif

 
onefineday
post Posted: Feb 25 2008, 03:10 PM
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In reply to: EMD on Monday 25/02/08 02:56pm

I agree , tungsten is not well known , so few people know this company.
The thing I like about them is that they aren't an explorer , but a developer.
They actually have 3 sites , so they have a resource , the only question is how much.

What did you think of the exercise price on the options for the new MD ?
I thought they were a bit on the low side.





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The market can stay irrational longer than you can stay solvent.
 

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EMD
post Posted: Feb 25 2008, 02:56 PM
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In reply to: onefineday on Monday 25/02/08 02:35pm

Howdy WFD.

I've been a bit remiss not posting on VML a bit earlier....been holding for over a year.

I think it will be good news....notice the price and volume tickle up a bit late last week?

Maybe drilling results from Watershed or Mt. Mulgine....won't be the Watershed resource upgrade, as that is due around April.

I really think this is one of the better 'under the radar' stories out there.

 
onefineday
post Posted: Feb 25 2008, 02:35 PM
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In reply to: EMD on Monday 25/02/08 02:29pm

Hi EMD,
I have a small parcel of these , it will be interesting to see what the news is.
I think it will be to raise money , but they might have firmed up the resource estimate.
What do you think ?




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The market can stay irrational longer than you can stay solvent.
 
EMD
post Posted: Feb 25 2008, 02:29 PM
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Well over half a year since anyone posted on this very interesting stock. Watershed is shaping up as a potentially world class tungsten deposit (far Nth Qld).

Now in a trading halt.

Exciting stuff. cool.gif

 
onefineday
post Posted: May 7 2007, 05:21 PM
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In reply to: wyatthughes on Wednesday 18/04/07 12:29pm

Hi wyatthughes

Do you know when the resource estimate is due ?

ofd




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The market can stay irrational longer than you can stay solvent.
 
 


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