Victory Metals (ASX: VTM) has secured firm commitments to raise AU$4 million through a strongly supported placement at AU$0.73 per share—a 15% discount to its last traded price. The placement, backed by professional and sophisticated investors, as well as the company’s directors and management, signals robust confidence in the company’s strategic direction. Participation from Victory’s top 20 shareholders highlights continued high-net-worth investor support.
The funds will be used to advance the Pre-Feasibility Study and accelerate development of the North Stanmore Project, Australia’s largest clay-hosted heavy rare earths deposit located in Cue, WA. A total of 5.14 million shares will be issued to external investors, and an additional 342,466 shares to management, subject to shareholder approval. Furthermore, 1.8 million unlisted options with an AU$1.30 strike price will be issued to unrelated parties. Victory’s CEO Brendan Clark emphasized the raise as pivotal, enabling the company to build a globally significant critical minerals platform.
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