ASX:VMM

Viridis Mining and Minerals Says AU$56 Million Pro Forma Cash Position Fully Funds Colossus Project Through FID

Viridis Mining and Minerals (ASX:VMM) reported a combined pro forma cash position of up to AU$56 million, comprising AU$20.4 million at June 30 and about AU$36 million remaining under a binding investment agreement with ORE Investments and Régia Capital, according to a Friday Australian bourse filing.The company said the position fully funds the acceleration of development through final investment decision for the Colossus rare earth project and the commencement of early project execution activities.

Viridis Mining and Minerals' Brazil Rare Earth Project Shows Stronger Economics Potential, Euroz Hartleys Says

Viridis Mining and Minerals (ASX:VMM) is well positioned to deliver improved economics at its Colossus rare earth project following stronger-than-expected demonstration plant recoveries and progress toward a Solvay offtake agreement, Euroz Hartleys said in a Thursday note.Euroz Hartleys said the Colossus demonstration plant achieved July average recoveries of 79% magnet rare earth oxides (MREO) and 64% total rare earth oxides, exceeding pre-feasibility study (PFS) assumptions, with peak MREO recoveries above 80% despite processing lower-grade ore from the northern concessions.The research firm noted that the demonstration plant achieved strong metallurgical performance despite processing feed averaging 803 parts per million (ppm) of MREO, below both the PFS life-of-mine average of 936 ppm and the 1,420 ppm head grade used in earlier Australian Nuclear Science and Technology Organization bulk composite testwork.The research firm estimates stronger recoveries could materially improve definitive feasibility study (DFS) economics, lifting its risked net asset value by about AU$0.30 per share, with further process optimization offering additional upside.It also highlighted progress with Solvay, expecting a binding offtake and technical services agreement in the September quarter and higher mixed rare earth carbonate (MREC) payabilities in the DFS, supported by the planned commercial-scale lanthanum removal circuit.It raised its risked net asset value by 2% to AU$5.40 per share after updating its model with improved ore-to-MREC recovery assumptions ahead of the DFS.Euroz Hartleys maintained a speculative buy rating on Viridis Mining and Minerals while raising the price target to AU$5.40 from AU$5.27.

Viridis Mining and Minerals Achieves Steady-State Rare Earth Carbonate Production at Demonstration Plant

Viridis Mining and Minerals (ASX:VMM) achieved steady-state continuous production of mixed rare earth carbonate (MREC) from its demonstration plant, following successful initial start-up disclosed May 26, according to a Thursday Australian bourse filing.The company said July magnet rare earth oxide (MREO) recoveries reached 80%, materially outperforming the metallurgical recoveries adopted in the pre-feasibility study (PFS), with average July recoveries of 79% MREO and 64% total rare earth oxide compared with PFS assumptions of 76% and 57%, respectively.Demonstration plant optimization remains ongoing, the filing added.

Viridis Mining and Minerals' Brazil Project Resource Update Marks Key Derisking Milestone, Euroz Hartleys Says

Viridis Mining and Minerals (ASX:VMM) has reached a key derisking milestone for its Colossus Ionic Adsorption Clay (IAC) project in Brazil with an updated mineral resource estimate, boosting confidence in project debt financing and highlighting several near-term catalysts, Euroz Hartleys said in a note on Thursday.The company's infill drilling program increased the measured resource at the Colossus deposit to 31 million tonnes from 700,000 tonnes, grading 2,858 parts per million (ppm) total rare earth oxides (TREO) and 758 ppm magnet rare earth oxides (MREO).Euroz Hartleys expects the project's first five years of plant feed to be sourced entirely from proven reserves within the northern concessions, meeting a key technical requirement for securing project debt financing.The research firm noted that the updated global mineral resource comprises 473 million tonnes grading 2,505 ppm TREO and 592 ppm MREO, including 305 million tonnes in the measured and indicated category, with Colossus retaining its status as the world's highest-grade measured and indicated MREO IAC resource.The research firm said the conservative estimate limited measured and indicated resources to regolith ore, with transitional material remaining inferred pending further metallurgical studies, while improved confidence in high-MREO northern concessions offset lower overall tonnage and grade.Euroz Hartleys anticipates a catalyst-rich September quarter, driven by Colossus demonstration plant results, an updated ore reserve, the August definitive feasibility study, Solvay offtake progress, financing, and project execution milestones ahead of final investment decision in the second half.Euroz Hartleys maintained a speculative buy rating on Viridis Mining and price target of AU$5.27.

Viridis Mining and Minerals Upgrades Brazil Project Resource Estimate

Viridis Mining and Minerals (ASX:VMM) upgraded the mineral resource estimate (MRE) for its Colossus project in Brazil to 305 million tonnes at 2,723 parts per million total rare earth oxide (TREO) and 659 parts per million magnet rare earth oxide (MREO), according to a Thursday Australian bourse filing.The total Colossus mineral resource stands at 473 million tonnes at 2,505 parts per million TREO and 592 parts per million MREO, the filing added.The company said the program also defined a measured mineral resource of 31 million tonnes at 2,858 parts per million TREO and 758 parts per million MREO, providing the high-confidence resource foundation for the highest-value years of planned production and supporting strong early cash flows and rapid capital payback.High-value magnet rare earths comprising neodymium, praseodymium, dysprosium, and terbium continue to account for about 24% of TREO within the measured and indicated resource, the filing added.The substantial measured mineral resource supports the anticipated conversion of the initial production schedule to proven ore reserves as part of the definitive feasibility study, satisfying a key technical requirement for project debt financing and representing a major milestone toward a final investment decision in the second half of 2026, it added.The company's shares rose nearly 1% in recent Thursday trade.

Canaccord Genuity Starts Viridis Mining and Minerals at Speculative Buy With AU$6.30 Price Target

Viridis Mining Signs Binding Agreement with Electricity Distributor for Brazil Rare Earth Project Power Transmission Infrastructure

Viridis Mining and Minerals (ASX:VMM) signed a binding agreement with a municipal electricity distributor to deliver a dedicated power transmission infrastructure necessary to connect the Colossus rare earth project to the Brazilian electricity grid, according to a Thursday Australian bourse filing.The agreement includes the licensing, engineering, procurement, and construction of a dedicated 3.2-kilometer, 138-kilovolts high-voltage transmission connection from the nearby Saturnino substation to the Colossus project, as well as an initial reserved power allocation of 27 megawatts to support stage one operations.It secured reserved grid capacity commencing from December 2027. It also received tenders for key electrical infrastructure packages, including power transformers, electrical switch rooms, and associated process plant infrastructure.The connection works package is valued at around 3.97 million Brazilian real, per the filing.

Viridis Mining and Minerals Executes Arguably 'Most Significant' Developemnet to Date for Brazil Project, Says Euroz Hartleys

Viridis Mining and Minerals' (ASX:VMM) non-binding Letter of Intent with Solvay is arguably the "most significant" development for the Colossus project to date, according to a Tuesday Euroz Hartleys note.The company on Tuesday said it entered into a nonbinding letter of intent with Solvay regarding the proposed supply of mixed rare earth carbonate (MREC) from its Colossus rare earth project in Brazil.The development is a transformational catalyst for the company, the note said, as it added that Solvay is targeting supplying 30% of the European market for magnet metals by calendar 2030, with Colossusevidently selected as Solvay's preferred source of MREC from calendar 2028.Euroz Hartleys maintained a speculative buy rating on Viridis Mining and Minerals and a price target of AU$5.The company's shares fell 8% in recent Tuesday trade.

Viridis Mining Enters Nonbinding Letter of Intent With Solvay for Proposed Supply From Brazil Rare Earth Project

Viridis Mining and Minerals (ASX:VMM) entered into a nonbinding letter of intent with Solvay regarding the proposed supply of mixed rare earth carbonate (MREC) from its Colossus rare earth project in Brazil, according to a Tuesday Australian bourse filing.The letter includes proposed offtake arrangements and a technical package, the filing said. It also provides a structured pathway for the companies to progress development milestones required to accelerate development of the project and support commercial MREC production from Brazil by 2028.

Viridis Mining and Minerals Delivers First MREC Output in Brazil as Project Advances Toward FID, Euroz Hartleys Says

Viridis Mining and Minerals (ASX:VMM) has produced its first batch of mixed rare earth carbonate (MREC) from its operational demonstration plant in Brazil, marking a key step toward offtake discussions and a targeted final investment decision (FID) in the second half of the year, Euroz Hartleys said in a Tuesday note.The plant, based on the company's pre-feasibility study flowsheet, is processing ore from the Colossus Northern Concessions intended to supply the first five years of mining operations, with a capacity of 100 kilograms of ore feed per hour and a daily output of around 8 kilograms of MREC.Euroz said the operation will optimize the processing flowsheet and refine the assumptions for the definitive feasibility study, which is expected in June.The firm highlighted Colossus's growing strategic role in Western supply chains, noting it is one of only two rare earth projects under European Commission review for potential investment support.Euroz Hartleys noted that the company has lodged the installation license application for Colossus with the Minas Gerais environmental agency, advancing to the second stage of its three-step approval process, with approval expected to enable construction and support a targeted second-half FID.The firm has lifted its valuation outlook on the company, citing improved funding assumptions and stronger neodymium-praseodymium pricing dynamics that it says are driving a scarcity premium for large non-Chinese rare earth projects.Euroz Hartleys retained its speculative buy rating on Viridis Mining and raised its price target to AU$5 per share from AU$4.10 per share.

Viridis Mining and Minerals Produces First Mixed Rare Earth Carbonate Product at Brazil Plant

Viridis Mining and Minerals (ASX:VMM) manufactured the first batch of high-grade mixed rare earth carbonate at its demonstration plant in Poços de Caldas, Brazil, according to a Tuesday filing with the Australian bourse.The plant is currently processing ionic clay feed sourced from the Colossus Project Northern Concessions, with the ore feed expected to support the proposed mine plan's early years.As the demonstration plant is now operational, Viridis plans to advance key initiatives, including producing mixed rare earth carbonate samples "for potential offtake partners currently in advanced discussions," the company said."Very few Western rare earth companies possess the in-house capability to continuously process ionic clay material at scale, into a saleable [mixed rare earth carbonate] product," said Viridis Managing Director Rafael Moreno.

Viridis Mining and Minerals Submits Installation License Application for Brazil Rare Earth Project

Viridis Mining and Minerals (ASX:VMM) submitted an installation license application for its flagship Colossus rare earth project in Brazil, according to a Tuesday filing with the Australian bourse.The submission follows the approval of a preliminary license in December 2025.Approval of the installation license by the State Environmental Agency of Minas Gerais would allow for the start of construction and site development activities, the company said.A final investment decision for the Colossus project is targeted for the second half of this year.

Viridis Mining and Minerals Completes Drilling to Update Brazil Rare Earth Project Mineral Resource Estimate

Viridis Mining and Minerals (ASX:VMM) completed an infill drilling campaign aimed at updating the mineral resource estimate for the Colossus rare earth project in Brazil, according to a Friday Australian bourse filing.The campaign was primarily focused on the Northern Concessions prospect to convert indicated and inferred resources into the measured category.It encountered intercepts of eight meters at 7,076 parts-per-million grade of total rare earth oxides, including 167 ppm grade of dysprosium-terbium, as well as 16 meters at 7,434 ppm grade of total rare earth oxides, including 188 ppm grade of dysprosium-terbium.Its shares fell 2% in recent trading on Friday.

Viridis Mining and Minerals Expected to Benefit from Sector M&A Activity, Says Euroz Hartleys, Shares Hit All-Time High

Viridis Mining and Minerals (ASX:VMM) is expected to benefit from mergers and acquisition activity in the rare earth sector following USA Rare Earth's acquisition of Serra Verde, said Euroz Hartleys in a Tuesday note.The research firm called the deal a "major" sector development with significant implications for Brazilian ionic adsorption clay companies.Euroz Hartleys maintained its speculative buy rating on Viridis Mining and Minerals with a price target of AU$4.10.The company's shares rose 31% to its all-time high in recent Tuesday trade.