VHM (ASX:VHM) secured a non-binding and conditional letter of support from Export Finance Australia for the provision of up to AU$75 million and an updated letter of interest from the Export-Import Bank of the US (EXIM) for up to $200 million in debt funding, according to a Tuesday filing with the Australian bourse.

The EXIM letter of interest involves financing with an improved term of up to 15 years in potential funding for the development of the Goschen project in Victoria, the filing said.

VHM shares rose more than 17% in afternoon trade on Tuesday and earlier reached their highest since February 2024.