Dec 21 (Reuters) - Vital Metals Ltd VML.AX :
* ENTERED TERM SHEET WITH REETEC FOR A BASE OF 1,000 TONNES REO (EX-CERIUM) PER ANNUM FOR A PERIOD OF 5 YEARS
* TERM SHEET INCLUDES OPTION TO INCREASE OFFTAKE VOLUMES UP TO 5,000 TONNES REO (EX-CERIUM) PER ANNUM