Australia’s Vital Metals (ASX: VML), the first rare earths producer in Canada, has announced a trading halt until Thursday, August 12, on reports of negotiations to acquire two projects in Quebec, one of which is considered to be the world’s fourth largest dysprosium deposit.
The company, AFR reported, is said to be in final talks to acquire the Zues project and a 68% interest in Kipawa, two rare earths assets owned by Quebec Precious Metals Corp. (TSX-V: QPM).
Pushing the Aussie miner’s shares up, which have climbed 22% in the last week and an eye-popping 308% in the past year, was Vital’s announcement on Monday that it is actively seeking to expand into US capital markets.
The company has engaged Tectonic, the consulting and advisory service arm of Ecoban Securities Corporation, to promote and manage Vital Metals’ securities.
As part of the agreement, the Sydney-based miner will issue 10,000,000 3-year unlisted options to Tectonic.
For the rest of this article: https://www.mining.com/canadas-first-rare-earth-miner-in-trading-halt-on-expansion-rumours/