Vhm Limited · ASX:VHM
Vhm — Shareholder Meeting (November 2025)
20 slides from Vhm's shareholder meeting presentation, Nov 18, 2025
Slide 1: 2025 Annual General Meeting Chair Address and Presentation
ASX Release 18 November 2025 2025 Annual General Meeting Chair Address and Presentation VHM Limited (ASX: VHM) (the “Company”) advises in accordance with ASX Listing Rule 3.13.3, a copy of the address by Chair, Ian Smith and slides to be presented at today’s Annual General Meeting are attached. ENDS
Slide 2: Chair's Address
Chair’s Address Dear Shareholders, Good afternoon and thank you for joining us at our 2025 Annual General Meeting. This year marks a defining period in VHM’s history. We have now secured all primary project approvals for the Goschen Rare Earths and Mineral Sands Project in northwest Victoria, includ
Slide 3: Chair's Address (continued)
Over the past year, we have advanced multiple offtake negotiations, refined our technical design including a starter project concept, and built strong partnerships with leading Australian engineering, construction and mining firms. We continue to maintain close collaboration with state and federal g
Slide 4: VHM Limited 2025 Annual General Meeting
VHM Limited 2025 Annual General Meeting 18 November 2025 ASX:VHM Acknowledgement of Country VHM acknowledges the Australian Aboriginal and Torres Strait Islander peoples as the first inhabitants of the nation and the traditional custodians of the lands where we live, learn and work. We pay our respe
Slide 5: VHM Limited Board
VHM Limited Board IAN SMITH RON DOUGLAS MAREE ARNASON DON RUNGE COLIN MOORHEAD Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director BEng Mining (Honours), BFinAdmin, BE, FAIM, MAusIMM, MAICD BA, FAICD BEng Mining, MAusIMM BSc (Honours) Ge
Slide 6: Agenda
Agenda 1 Chair’s Address 2 CEO Presentation 3 Questions and Voting Procedure 4 Formal Business 5 General Questions 3
Slide 7: Chair's Address
Chair’s Address Ian Smith Non-Executive Chair 4
Slide 8: CEO Presentation
CEO Presentation Andrew King Chief Executive Officer 5
Slide 9: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements Important Information Statements to reflect any changes. Recipients should form their own views as to these matters and any assumptions on which any of the Forward Statements are based and not place reliance on such statements. This presentation has been pre
Slide 10: Company update
Company update 7
Slide 11: Global spotlight on rare earths
Global spotlight on rare earths Recent rare earths export control Lessons from the past Global responses imposed by China >A$3.5bn in private capital raised Sep 2010 for rare earths development since July 2025 (April 2025) MP Material – DoW Public Private Partnership for rare earths (June 2025) US$1
Slide 12: Investment highlights
Investment highlights Victorian rare earths project with a diversified assemblage, strategic location near critical infrastructure, attractive project economics, future upside potential and a short pathway to production GOSCHEN PROJECT Strong project economics with diversified assemblage across ligh
Slide 13: All substantive approvals obtained
All substantive approvals obtained Work plan approvals expected in Q4 2025 Key approval Status Approval date MOU with Gannawarra Shire Council1 ✓ March 2023 MOU with Swan Hill Rural City Council2 ✓ May 2023 Victorian Minister for Planning approved public exhibition ✓ November 2023 Public hearing ✓ M
Slide 14: Short path to 1.5Mtpa production, with flexibility to fast-track to 5Mtpa
Short path to 1.5Mtpa production, with flexibility to fast-track to 5Mtpa Targeting FID in 1H 2026 and first production in Q2 2027 CY 2025 CY 2026 CY 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Approvals Mining licence EPBC CHMP Work Plan Planning Scheme granted approved approved approval Amendment app
Slide 15: Increased strategic focus from Australian and US governments
Increased strategic focus from Australian and US governments Historic US-Australia framework to provide support for Goschen with the project identified as a candidate to contribute to supply chain security under the bilateral framework US-Australia rare earths framework Key outcomes for VHM1 ✓ EXIM
Slide 16: Community engagement and sponsorship
Community engagement and sponsorship Education Social Local Industry ▪ Teacher Earth Science Education Program (TESEP) ▪ Swan Hill Rotary Club’s Kerang Art Show ▪ Cross-Border Industry Taskforce - a Victoria, New ▪ Golden Rivers and Central Murray Football-Netball Leagues South Wales and South Austr
Slide 17: Appendix A | JORC Tables
Appendix A | JORC Tables 14
Slide 18: Resources - Company mineral resources
Resources - Company mineral resources 890 Mt mineral resource estimate Total Heavy Bulk Oversize THM Assemblage(4) Rare Earth Oxides Mineral Resource Material In Situ THM Mineral Slimes Area Density material Zircon Rutile Leucoxene Ilmenite Monazite Xenotime VHM La2O3 CeO2 Pr6O11 Nd2O3 Sm2O3 Eu2O3 G
Slide 19: Company Ore Reserves
Company Ore Reserves1 220Mt Ore Reserve Ore THM THM Zircon Rutile Leucoxene Ilmenite Area Class. Monazite (%) Xenotime (%) (Mt) (Mt) (%) (%) (%) (%) (%) Area 1 Proven 16 0.7 4.1 28 13 11 27 4.0 0.8 Area 1 Probable 31 0.9 2.9 28 12 9.2 26 4.6 0.8 Area 3 Probable 160 5.6 3.5 20 9.4 8.1 26 3.4 0.6 Area
Slide 20: Thank you for your attendance
Thank you for your attendance