Aluminium miner VBX trades higher on debut
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The news: Shares in prospective bauxite miner VBX opened higher on its ASX-debut following completion of an oversubscribed $10 million initial public offering.
The numbers: At 11:11am AEST, the VBX share price had risen 15% to $0.69. Trading in the shares started just after 11am AEST.
The context: VBX is the sole operator of the advanced Wuudagu bauxite project in Western Australia, which is targeting first production in the fourth quarter of 2026.
The company recently completed a pre-feasibility study and is targeting completion of a definitive feasibility study in the second half of 2025, project financing in the second quarter of 2026 and regulatory approvals in the third quarter of 2026.
What they said: “Wuudagu’s unique combination of an attractive, low silica product quality and short, efficient logistics set it apart from existing and potential suppliers into the rapidly growing bauxite market at a crucial time of increasing supply concentration and risk,” VBX founder and managing director Ryan de Franck said.
