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Sunrise Energy Metals Limited (ASX:SRL)

ALERT: Price-sensitive ASX Announcement for SRL
Current share price for SRL : $14.490 7.46 (106.12%)+
Announcement
Release
3 Dec 2025 9:36AM
Price at Release
$7.030
Full Release
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Summary
Sunrise Energy Metals Limited has secured firm commitments for a follow-on placement raising A$18.865 million through the issuance of 3.85 million shares at a price of $4.90 per share. This placement, which represents a 15.3% premium over a previous placement, aims to accelerate pre-construction activities at the Syerston Scandium Project in New South Wales, Australia. The funds will support engineering, infrastructure connection, in-fill drilling, and early contracting for equipment. The placement remains subject to shareholder approval, and the company is optimistic about the demand for scandium, as it continues discussions with potential end-users.
Key Points
  • Placement of 3.85 million shares at $4.90 each.
  • A$18.865 million raised through the placement.
  • The placement price is a 15.3% premium to a previous price.
  • Funds will be used for pre-construction activities at Syerston.
  • Shareholder approval required for the placement.
  • Sunrise Energy Metals aims to be a primary source of scandium.
  • The company sees a positive demand outlook for scandium.
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.