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Highlights
- Victory Metals includes gallium oxide in North Stanmore resource
- Strategic advantage as critical minerals face Chinese export curbs
- One of Australia’s few declared gallium oxide resources
Victory Metals (ASX:VTM) has significantly strengthened its North Stanmore Project in Western Australia by incorporating gallium oxide into its updated resource estimate. This move further bolsters the company’s positioning within the global critical minerals landscape.
The updated estimate now includes 4,788 tonnes of gallium oxide, elevating the total resource to 247.5 million tonnes grading 520 parts per million (ppm) total rare earth oxide, alongside gallium oxide at 26ppm. This resource is classified under the inferred and indicated categories.
The inclusion of gallium oxide marks a strategic expansion of Victory Metals' critical minerals portfolio at a time when supply constraints are tightening globally, primarily due to Chinese export restrictions. With a market capitalisation of approximately $45.44 million, Victory Metals is strategically positioning itself as a dependable Western supplier of in-demand metals.
While gallium is not the central focus of the North Stanmore development, its recovery has been described as a value-enhancing bonus. According to the company, gallium can be extracted concurrently through its existing processing flowsheet without introducing additional complexity. This positions the project as more attractive for potential downstream and offtake partnerships.
Gallium is a crucial material in advanced technologies, with applications ranging from artificial intelligence chips and semiconductors to quantum computing, LEDs, solar panels, and defence systems. The current market value of gallium oxide stands at around $770 per kilogram, highlighting its importance in high-tech industries.
Victory Metals' North Stanmore Project now contains seven key critical minerals impacted by export controls from China. These include both heavy and light rare earth elements, as well as gallium and scandium. The presence of such a diverse suite of strategic metals significantly enhances the project’s global appeal.
The company also stands out as one of the few in Australia to have a formally declared gallium oxide resource. Four stages of metallurgical testwork have been conducted, focusing on beneficiation and leaching techniques to evaluate recovery potential and processing strategies.
Located just 6km north of Cue in Western Australia, the North Stanmore Project has already demonstrated compelling economics, with an estimated net present value of $1.212 billion and an internal rate of return of 52%.
With gallium now added to its roster, Victory Metals (VTM) continues to expand its footprint in the strategic minerals space, aligning itself with the growing global demand for high-tech and sustainable infrastructure materials.
