Surefire Secures Offtake Agreement for Victory Bore with HMS Bergbau.

Surefire Resources (ASX: SRN) has signed a Heads of Agreement (HOA) with German commodity firm HMS Bergbau AG for the offtake of all critical mineral products from its Victory Bore Project. HMS, a global leader in raw materials logistics, aligns with Surefire’s strategy to establish key supply chains in Europe, Africa, Asia, and the Middle East. This agreement strengthens ongoing discussions with European and Saudi stakeholders for project funding. It follows an Expression of Interest from HMS in November 2024 and will help finalize key terms, including product volumes, delivery schedules, and pricing structures. 

The HOA supports Germany’s push to secure critical mineral resources, backed by its €1 billion Raw Materials Fund. Victory Bore holds a JORC-compliant resource of 464Mt, including a 93.1Mt ore reserve with significant vanadium, titanium, and iron content. Metallurgical tests confirm high-grade vanadium recovery, positioning the project as a key supplier for the European market.

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