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Viridis Mining and Minerals Limited (ASX:VMM)

ALERT: Price-sensitive ASX Announcement for VMM
Current share price for VMM : $3.300 2.02 (157.81%)+
Announcement
Release
29 Oct 2025 12:19PM
Price at Release
$1.280
Full Release
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Summary
Viridis Mining and Minerals Limited (ASX: VMM) reported significant developments for the quarter ending 30 September 2025, particularly with its Colossus Rare Earth Project in Brazil. The company completed a Pre-Feasibility Study (PFS) for Colossus, confirming its robust economic potential with a pre-tax NPV8 of approximately US $1.41 billion (AU $2.14 billion). The project is progressing rapidly with environmental permitting and strategic expansions in land holdings, securing an additional 2,503.6 hectares adjacent to existing licenses. Viridis has also secured substantial funding and strategic partnerships, including a US $11.5 million placement and collaborations with Brazilian asset managers to support project development. The company reported a net increase in cash and cash equivalents, driven by equity proceeds despite expenses in exploration and operations. Viridis continued to advance the establishment of Latin America’s first rare earth refining hub, marking a pivotal step in the vertical integration of their supply chain.
Key Points
  • Viridis completed a detailed Pre-Feasibility Study for the Colossus Project.
  • Colossus Project has significant economic potential with a pre-tax NPV8 of US $1.41 billion.
  • Environmental permitting and strategic land acquisition progresses in Brazil.
  • Secured AU $11.5 million in funding to support project development.
  • Established partnership with Brazilian asset managers for additional funding.
  • Net increase in cash and cash equivalents due to equity proceeds.
  • Plans to establish Latin America's first rare earth refining hub.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.