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The support relates to the potential provision of mining hardware, the process plant and infrastructure from Dutch owned Royal IHC, which has supported HM with technical, engineering and project study work for Port Gregory since HM listed in September 2021.
The lower interest rates typically involved in these financings are an added bonus.
Due diligence is now to be undertaken by Dutch authorities.
HM is aiming to be in garnet and ilmenite production in 2026.
A scoping study last year outlined a project with an after-tax net present value of $253 million.
HM ended the March quarter with $900,000 cash.
Shares in HM were up 7% to 10.7c per share, capitalisng the company at $5.7 million.
