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Sunrise Energy Metals Limited (ASX:SRL)

ALERT: Price-sensitive ASX Announcement for SRL
Current share price for SRL : $15.260 7.91 (107.62%)+
Announcement
Release
16 Dec 2025 8:59AM
Price at Release
$7.350
Full Release
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Summary
Sunrise Energy Metals Limited announced a follow-on placement to raise A$32.5 million through the issuance of 5 million shares at A$6.50 each, marking a 33% premium over a prior placement price. This funding, part of a larger A$105 million capital campaign, is earmarked for advancing the Syerston Scandium Project in New South Wales, Australia, which seeks to establish a major Western source of scandium, reducing dependency on Chinese-controlled supplies. The placement, which includes attaching options, is pending shareholder approval, with construction targeted for mid-2026.
Key Points
  • Sunrise Energy Metals Limited has secured commitments for a follow-on placement of A$32.5 million.
  • The placement involves issuing 5 million shares at a price of $6.50 per share.
  • This price represents a 33% premium over the placement price announced on 3 December 2025.
  • The shares come with attaching unlisted options, exercisable at $7.25 per share over a two-year term.
  • Total capital raised since June 2025 amounts to A$105 million.
  • The funds will be used for pre-construction activities at the Syerston Scandium Project.
  • The project aims to develop a reliable, Western source of scandium supply.
  • The placement is subject to shareholder approval, expected in January 2026.
  • Sunrise Energy Metals aims to commence on-site construction by mid-2026.
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.