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Sunrise Energy Metals Limited (ASX:SRL)

ALERT: Price-sensitive ASX Announcement for SRL
Current share price for SRL : $14.740 4.65 (46.09%)+
Announcement
Release
29 Jan 2026 9:33AM
Price at Release
$10.090
Full Release
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Summary
Sunrise Energy Metals Limited reported its quarterly activities for the period ending 31 December 2025. The company highlighted an updated Ore Reserve Estimate for the Syerston Project, supporting a 32-year project lifespan with an annual production of approximately 60 tonnes of scandium oxide. A Letter of Interest from the U.S. EXIM Bank for up to $67 million in financing was received, and approximately A$98 million was raised through placements to fund pre-construction activities at the Syerston Scandium Project. Notably, Lockheed Martin secured an option to purchase 15 tonnes per annum of scandium oxide. The company continued pre-construction preparations and exploration activities across its assets, maintaining a strong focus on the Syerston Project amid increasing demand and tightening supply of scandium due to export restrictions by China. As of the end of the quarter, Sunrise held $47.9 million in cash and cash equivalents.
Key Points
  • Updated Syerston Ore Reserve supports a 32-year project life
  • US EXIM Bank offers $67 million financing for Syerston Project
  • Raised A$98 million for pre-construction activities at Syerston
  • Lockheed Martin option to purchase 15 tonnes of scandium oxide
  • Continued progress on Syerston feasibility study, completion expected early 2026
  • Increased interest from U.S. scandium users amid China's export restrictions
  • No lost time injuries or reportable environmental incidents during the quarter
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.