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Rare earth and mineral sands mining and processing company VHM Limited is pegged to begin trading publicly on the ASX on January 9, 2023.

The company targeted a raise of $20 million at $1.35 a share in its initial public offering (IPO), which closes on December 16.

The company’s flagship Goschen Project has a substantial rare earth deposit of 413,107 tonnes of total rare earth oxide (TREO), with an accompanying world-class mineral sands resource, located in the premier mineral sands province in North-West Victoria, Australia.

Goschen is in a premier mining jurisdiction with existing infrastructure, a skilled workforce and strong local, state, and federal government support.

VHM has conducted several exploration and resource development drilling and sampling programs across the project area.

The definitive feasibility study has defined an execution strategy for the development of the project to deliver a fully commissioned mining and treatment operation that achieves a nameplate production rate based on a feed rate to the process plant of 5mt per annum to produce and market a range of products to national and international consumers.

Goschen will produce critical minerals (rare earth, zircon and titanium minerals) important to the green energy transition as well as applications in defence.