Latest news with #BrendanClark
Yahoo
24-04-2025
- Business
- Yahoo
Victory Metals secures $190m LOI from EXIM for North Stanmore project
Australian exploration company Victory Metals has secured a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $190m in debt financing support to develop its North Stanmore heavy rare earths, scandium and hafnium project in Western Australia (WA). The non-binding LOI has an indicative repayment term of 15 years. It also opens the possibility for Victory Metals to tap into further US Government financing through the China and Transformational Exports Program. The final financing commitment is contingent upon standard due diligence and compliance with EXIM's policies, as well as legal and eligibility requirements. Victory Metals CEO Brendan Clark said: 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad. Support from EXIM, especially under the China and Transformational Exports Programme, elevates our potential as a secure, non-Chinese supplier of critical minerals. It is also a powerful endorsement of the technical and geopolitical strength of our project.' The LOI may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. EXIM's 2019 reauthorisation encourages the bank to counteract competitive export support from China and other nations. This provision aims to bolster US leadership in sectors vital to economic and national security, such as rare earths and advanced materials. Victory Metals' North Stanmore project may benefit from this directive, which seeks to promote ethical, non-Chinese sources of critical materials. With the backing of EXIM, Victory Metals is in a stronger position to expedite negotiations with US and international downstream partners including major original equipment manufacturers and defence-aligned industries. Clark added: 'This EXIM Letter of Interest provides a clear pathway for Victory to access long-term, government-backed funding from one of the most influential export credit agencies in the world. We look forward to continuing to collaborate with EXIM as we move towards full project funding.' In January 2025, Victory Metals unveiled a substantial upgrade to the mineral resource estimate for its North Stanmore project. "Victory Metals secures $190m LOI from EXIM for North Stanmore project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
Victory Metals secures $190m LOI from EXIM for North Stanmore project
Australian exploration company Victory Metals has secured a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $190m in debt financing support to develop its North Stanmore heavy rare earths, scandium and hafnium project in Western Australia (WA). The non-binding LOI has an indicative repayment term of 15 years. It also opens the possibility for Victory Metals to tap into further US Government financing through the China and Transformational Exports Program. The final financing commitment is contingent upon standard due diligence and compliance with EXIM's policies, as well as legal and eligibility requirements. Victory Metals CEO Brendan Clark said: 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad. Support from EXIM, especially under the China and Transformational Exports Programme, elevates our potential as a secure, non-Chinese supplier of critical minerals. It is also a powerful endorsement of the technical and geopolitical strength of our project.' The LOI may receive special consideration under Section 402 of EXIM's 2019 reauthorisation. EXIM's 2019 reauthorisation encourages the bank to counteract competitive export support from China and other nations. This provision aims to bolster US leadership in sectors vital to economic and national security, such as rare earths and advanced materials. Victory Metals' North Stanmore project may benefit from this directive, which seeks to promote ethical, non-Chinese sources of critical materials. With the backing of EXIM, Victory Metals is in a stronger position to expedite negotiations with US and international downstream partners including major original equipment manufacturers and defence-aligned industries. Clark added: 'This EXIM Letter of Interest provides a clear pathway for Victory to access long-term, government-backed funding from one of the most influential export credit agencies in the world. We look forward to continuing to collaborate with EXIM as we move towards full project funding.' In January 2025, Victory Metals unveiled a substantial upgrade to the mineral resource estimate for its North Stanmore project. "Victory Metals secures $190m LOI from EXIM for North Stanmore project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
News.com.au
23-04-2025
- Business
- News.com.au
Resources Top 5: North Stanmore critical minerals project scores another Victory
A letter of intent from the EXIM Bank in the US will potentially provide US$194m for the North Stanmore REE project in WA Green Critical Minerals has signed a collaboration agreement with an Australian data centre operator Impact Minerals is on track to secure HPA tech Your standout small cap resources stocks for Wednesday, April 23, 2025. Victory Metals (ASX:VTM) It has been a stellar month for critical metals player Victory Metals, rising from 36.5c on April 7 to 51.5c early on Wednesday, April 23, on the back of a string of positive news. After securing a letter of intent for US$194m from the Export-Import Bank of the United States to advance development of its North Stanmore rare earths project in WA, the company has notched another 17.05% increase on the previous close to 51.5c. It closed up 8% at 47.5c. The potential debt financing support from the US Government bank establishes Victory as one of a few Australian critical minerals developers attracting high-level international support as it vies for supply chain control after China introduced rare earth export restrictions earlier this month. The letter of intent also provides a clear pathway for Victory to access long-term, government-backed funding from one of the world's most influential export credit agencies. The North Stanmore project in WA's Murchison region is shaping as a potentially major Western source of rare earths, featuring some of the highest metallurgical extraction rates for rare earths on the export restriction list - including 94% terbium, 87% dysprosium, 71% lutetium and 72% yttrium. The project has moved into the spotlight after China's export controls sent a clear message that the West cannot rely on it as a stable supplier of rare earth elements critical to economic and national security. 'This is a major milestone for Victory and a clear signal of the strategic importance of our project not only to Australia but to our allies abroad,' VTM CEO Brendan Clark said. 'Support from EXIM, especially under the China and Transformational Exports Program, elevates our potential as a secure, non-Chinese supplier of critical minerals. 'It is also a powerful endorsement of the technical and geopolitical strength of our project.' With EXIM's backing, the company is well-positioned to accelerate discussions with US and international downstream partners, major OEMs and defence-aligned industries seeking ethical, non-Chinese sources of critical materials. The EXIM LOI follows Victory Metals last week unveiling a major gallium resource as a by-product to the heavy rare earths at North Stanmore, which is set to boost the project's economics. It also comes after the company welcomed a US Executive Order to investigate the national security implications of the United States' reliance on imported processed critical minerals. Green Critical Minerals (ASX:GCM) A critical metals company operating in the graphite space is Green Critical Minerals which has signed a collaboration agreement with Australian data centre operator GreenSquareDC highlighting commercial interest in its very high density (VHD) graphite Under the agreement, which is part of an ongoing targeted customer qualification and engagement program, the companies will collaborate in the development and provision of thermal management products for GreenSquareDC's data centres using VHD Graphite. Over 24 months both parties will assess the commercial viability of jointly developed, specially designed thermal management products and share relevant intellectual property and confidential information for the purpose of the collaboration. GCM has been steadily demonstrating the potential of its VHD Graphite technology to meet the needs of industries requiring next-generation advanced engineered graphite and thermal solutions. Its technology has consistently manufactured a product with the highest density (2071kg/m3) recorded for VHD blocks while the average density of 2011kg/m3 easily exceeds industry standard densities for nuclear graphite (1700-1900kg/m3), which is used as a high-temperature control-rod material, and electrode graphite (1550-1800kg/m3) used in batteries. Testing also found that its VHD Graphite blocks had 3x better thermal diffusivity than aluminium and graphite, 2.6x better than copper as well as a 25x directional advantage. More recently, an experienced company with expertise in the design and supply of heat sinks to the high-performance electronics and electrical systems sector progressed to Stage 2 of the qualification process after machining a VHD Graphite heat sink. The agreement has been welcomed by investors with GCM shares up to 44.5% above the previous close at 1.3c. 'This is a truly exciting tangible step forward in our targeted customer qualification program and a strong indication of the rapid progress we've made in a short period of time,' managing director Clinton Booth said. 'This agreement validates the clear and growing market interest in VHD Graphite as a potential solution to thermal management challenges for data centres, AI computing and high-performance electronics. 'Building on the recent successful machining of our first prototype heat sink, and with a formal agreement now in place with a forward-looking, sustainability focused data centre operator and developer, we are demonstrating real capability to deliver a lighter, more efficient, sustainable and commercially viable alternative to traditional heat management materials. 'Through real-world testing and direct customer engagement, we are successfully proving the commercial viability of our innovative technology.' Impact Minerals (ASX:IPT) High purity alumina is another critical mineral in the spotlight and Impact Minerals is on track to secure a 50% interest in Alluminous, positioning itself as the leading shareholder and accelerating its entry into the HPA market by up to two years. Alluminous is a newly formed company that acquired 100% of HiPurA and its HPA processing technology previously developed by ChemX before it went into voluntary administration in January. Impact believes the acquisition is complementary to its flagship Lake Hope project in WA, which holds a measured resource of 730,000t grading 25.8% alumina, or 189,000t of contained alumina, providing very high levels of confidence to support a 10,000tpa HPA plant for 15 years, planned to be operational by mid-2025. It also potentially accelerates IPT's entry into the $3.8b HPA market by up to two years, providing a significant time and cost advantage compared to the current projected timeline. According to IPT, the HiPurA technology provides the company with a critical downstream advantage involving a proven, modular and scalable processing route that does not depend on any single feedstock. The process has demonstrated >99.99% (4N) purity and offers IPT flexibility and optionality, enabling the assessment of the most commercially viable path to market through the Lake Hope Project, chemical feedstocks, or a combination of both. IPT managing director Dr Mike Jones said the acquisition represented a rare and strategic opportunity for Impact and this has been recognised by investors with shares as much as 40% higher to 0.7c, settling up 20% at 0.6c. 'The HiPurA process demonstrated innovation, scalability and the proven ability to produce 4N HPA at the micro-plant scale,' he said. 'The associated pilot plant, which is capable of producing at least 25 tonnes of HPA per year, is nearing commissioning and has the potential to accelerate the time to commercialisation materially. 'Impact is now uniquely positioned to become part of a vertically integrated, globally competitive supplier of HPA.' Traka Resources (ASX:TKL) The Siguiri Basin in Guinea is host to numerous multi-million-ounce gold deposits and Traka Resources is the latest company to test the waters through a partnership in the Didi gold project. Traka has signed an exclusive earn-in agreement with Guinea-based Alamako Corporation to earn-in a 75% interest in Didi, which is between two major gold assets owned by AngloGold Ashanti and just 12km east of its 8.5Moz Siguiri mine. The Didi permit hosts high-grade gold mineralisation supported by drilling, extensive high-grade surface geochemical anomalies and widespread artisanal activity with compelling evidence for a significant gold system. Alamako intersected high-grade gold across the project, including 1m at 6.5 g/t gold from 79m; 19m at 2.7 g/t from 31m, including 1m at 17.1 g/t from 31m; and 3m at 2.7 g/t from 15m. Trenching and geochemical sampling programs also returned high-grade results concentrated within the Didi-1 target. These included 24m at 3.66 g/t Au from 0m including 4m at 10.1g/t in a trench. 'The earn and JV on the Didi Gold Project provides TKL shareholders with a highly compelling advanced entry in one of West Africa's most prolific and exciting gold belts currently,' Traka CEO Steve Lynn said. 'With established mineralisation and multiple walk-up drill targets already identified, the Didi Gold Project offers a strong platform for near-term exploration success and future resource growth.' Copper Search (ASX:CUS) (Up on no news) Copper Search is targeting world-class copper-gold deposits within prolific resource-rich regions of South Australia and NSW. The Peake project is in the Gawler Craton in South Australia, a world-class mining district with more than 100Mt of copper and 110Moz of gold. The company's tenements cover more than 5000km2 giving it a strong ground position. In northwest NSW, CUS has the Byrock project which is prospective for large-scale porphyry deposits in the underexplored northern extension of the Macquarie Arc-Lachlan Fold Belt. There has been strong recent interest in this area with AngloGold Ashanti committing $195m to a 10-year exploration program. This project covers 2265km2 and is 50km north of the Cobar Mining District. In February 2025 CUS and privately held Nimrod Resources signed an exclusive binding option, farm-in and JV agreement that allows the company to earn up to a 75% interest in Byrock. The company is undertaking fieldwork at the project, including IP and airborne magnetic surveys. Shares have been as much as 21.2% higher to 2.3c.
Yahoo
21-03-2025
- General
- Yahoo
Everyday Hero: A meal and so much more
SUMMERVILLE, S.C. (WCBD) — Tonight, we head to Summerville for a meal and so much more. This week's everyday hero is in Flowertown. The concept for Meals on Wheels is pretty simple: deliver meals to the homes of people who need them. The reality is that the volunteers who do this mean so much more to the people who receive this kindness and generosity. I witnessed just 'how' much on a recent trip to Summerville. A typical morning starts at St. Paul's Anglican Church, where hundreds of meals are prepped three times a week. This morning, News 2's Brendan Clark rode with Erica Brusseau, who has volunteered for the past five years. 'Oh my gosh, it's the best part of my week, honestly,' Brusseau said. Brusseau is just one of 250 Meals on Wheels volunteers in Summerville. The volunteers bring more than just meals. It's their smiles and conversations that mean the most to the people they serve. 'You know, the meals are certainly important and I think it's a critical part of how they get through their days and their weeks, but I also think that the bigger part is how you can provide that connection,' Brusseau explained. To make this happen, Summerville volunteers drive thousands of miles. Last year, the team logged 51,000 miles. It's not just the miles, though. Nearly 125,000 pounds of fresh food was prepared, packed, and distributed, over 70,000 meals delivered, 23,000 volunteer hours logged, and over 33,00 welfare checks completed in 2024. As the demand for service grows, so does the cost of food. 'Our meals that we purchase from Lowcountry Food Bank back in 2019 when we started that partnership were $2.15 each,' said Crystal Bovell, the executive director of Meals on Wheels Summerville. 'They are going to inflate to $3.70 in July. That is almost double.' As a result, the organization had to reassess their budget in 2024 to figure out the most cost efficient way to move forward. With a $350,000 budget and six part-time employees, Summerville Meals on Wheels relies heavily on donations, which are well worth it if you ask anyone involved. 'I think you just have a responsibility. If you're part of that community, you support that community,' Brusseau said. 'So, I just think that's where we are.' 'They interact with you. They love on you and they're just loving people,' said Pat Bryant, meal recipient. 'Everybody that comes is very lovely.' Since the organization is not federally funded, it holds fundraisers to supplement its costs. The next one is the Dink and Deliver Pickleball Tournament on April 12 and 13. To learn more, click the link here. Interested individuals can play in the tournament or be a sponsor. Call 843-873-8224 if you have any questions. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
22-02-2025
- Entertainment
- Yahoo
Everyday Hero: Fame finds the hair hat lady
GEORGETOWN, S.C. (WCBD) – You have got to remember Denise, the 'hair hat lady.' News 2's Brendan Clark brought you her story in January. Denise Washington makes hats and accessories out of synthetic hair, and that hobby has made her famous. Six of her creations will be on display in the Smithsonian's National Museum of African American History and Culture. The story has brought much attention to Denise and her creations. 'Oh yeah, I'm very surprised by it,' she said. 'Everywhere I go people want to take pictures, want autographs. Everybody wants me to be someplace, but I can't be every place at one time, so I have to turn down some things.' But Denise couldn't turn down one important engagement. She recently received a historical proclamation from the mayor of Georgetown. 'I'm the first African American woman to ever receive two first-time mayor proclamations as the hair hat lady in the city of Georgetown,' Denise explained. 'It felt awesome; I mean, I had tears in my eyes.' As a self-proclaimed country girl from Nesmith, Denise says her hard work has finally paid off. 'I never dreamed this would happen in a million years,' she said. However, she did want it to happen, and now many other museums are asking for her creations, one of those being the Summerville Museum—a small museum with a big story. On a third Thursday, the museum had set up a special exhibit in Hutchinson Square to remember Kitty Springs for her work. Officials knew Denise would be a welcome addition as they would both be remembered for their hats. 'I would just like to say thank you to each and everyone for watching the news, watching the media, watching the news, and reading the newspaper. I just want to thank each and everyone for standing by the hair hat lady,' Denise expressed. Denise also shared that she will soon be a part of a documentary and plans to showcase her hometown of Nesmith, saying it's important never to forget where you came from. If you have an Everyday Hero, email bclark@ or submit it here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
