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Vanadium Resources Secures Binding DSO Offtake Deal and Raises $1.2M for Steelpoortdrift
7:03pm on Monday 28th of July, 2025 AEST
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Mining
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Vanadium Resources Secures Binding DSO Offtake Deal and Raises $1.2M for Steelpoortdrift
7:03pm on Monday 28th of July, 2025 AEST
Key Points
Binding two-year offtake agreement signed with China Precious Asia Limited for 100,000mt/month of magnetite DSO
Oversubscribed equity placement raises A$1.2 million to support near-term production
Convertible notes converted or repaid, strengthening company balance sheet
Operational activity paused except essential maintenance amid cost reduction initiatives
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