Victory Metals Secures Over US$200M to Advance Rare Earths Project

Resource Upgrade with Gallium Boosts Project Value

Victory Metals has unveiled a major enhancement to its North Stanmore Heavy Rare Earth Elements (HREE) Project in Western Australia, with the inclusion of Gallium oxide in its Mineral Resource Estimate (MRE). This addition of nearly 4,800 tonnes of Gallium oxide not only diversifies the company’s critical minerals portfolio but also elevates its standing as a potential key Western supplier of metals currently constrained by Chinese export controls.

Gallium, a critical metal used in advanced technologies such as AI chips, semiconductors, and solar panels, is recovered cost-effectively alongside Victory’s Mixed Rare Earth Carbonate product, requiring no additional processing. This strategic by-product enhances the project’s economic appeal without detracting from its core heavy rare earth revenue drivers.

Robust Financing Backing from Sovereign and US Government Entities

Victory Metals has made significant strides in securing funding to advance North Stanmore’s development. The company received a US$10 million unsecured loan facility from Sanabil Investments LLC, the investment arm of Saudi Arabia’s Public Investment Fund. This facility includes a two-year moratorium on interest payments and a competitive interest rate, with Sanabil also holding first rights to future funding for the project’s processing plant construction.

Complementing this, Victory secured a Letter of Interest from the US Export-Import Bank for up to US$190 million in project financing. This non-binding commitment, featuring a 15-year indicative repayment term, underscores the strategic importance of North Stanmore in the context of US efforts to counterbalance China’s dominance in critical minerals. The financing is subject to due diligence and compliance with EXIM policies but marks a landmark endorsement of Victory’s project.

Strong Shareholder Support and Solid Cash Position

Victory completed a $4 million placement during the quarter, attracting participation from company leadership, industry insiders, and top 20 shareholders. The placement was priced at a 15% discount to the last traded price, reflecting strong investor confidence in the company’s growth trajectory.

As of 30 June 2025, Victory Metals reported a healthy cash balance of $6.46 million alongside $624,000 in prepaid Preliminary Feasibility Study expenditure. Exploration and development activities continue apace, with the company focused on unlocking the full potential of its extensive tenement holdings in the Cue region of Western Australia.

Strategic Position Amid Global Rare Earths Supply Challenges

The North Stanmore Project boasts some of the highest metallurgical extraction rates for export-restricted heavy rare earth elements such as terbium, dysprosium, lutetium, and yttrium. These elements are critical for emerging technologies and defence applications, and their supply is increasingly constrained by Chinese export restrictions.

Victory’s positioning in a Tier-1 mining jurisdiction with strong governmental support, combined with its diversified resource base including Gallium, places it at the forefront of efforts to establish secure, long-term supply chains for critical minerals outside of China.