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Viridis Mining and Minerals Limited (ASX:VMM)

ALERT: Price-sensitive ASX Announcement for VMM
Current share price for VMM : $4.210 1.11 (35.81%)+
Announcement
Release
23 Jul 2026 8:39AM
Price at Release
$3.100
Full Release
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Summary
Viridis Mining and Minerals Limited announced that their Demonstration Plant has surpassed the recovery assumptions made in their Pre-Feasibility Study (PFS). The plant achieved an 80% recovery rate for Magnetic Rare Earth Oxides (MREO) and a 64% recovery rate for Total Rare Earth Oxides (TREO), outperforming the PFS assumptions of 76% and 57% respectively. These results were achieved through continuous operations and several process optimizations. The plant, which mirrors the planned commercial facility, processes 100kg/hr of clay feed and is one of the largest of its kind outside China. Beyond improving metallurgical recoveries, it has validated the flowsheet for the Colossus Project and supports project economics as they progress towards a Definitive Feasibility Study (DFS). The results also bolster confidence for the upcoming Final Investment Decision, having already attracted interest from strategic partners like Solvay.
Key Points
  • MREO recoveries exceeded 80%
  • TREO recovery rates at 64%
  • Outperformed PFS assumptions
  • Continuous plant operations
  • Process optimizations ongoing
  • Plant mirrors commercial facility
  • Largest demonstration plant outside China
  • Strengthens Colossus Project economics
  • DFS and Final Investment Decision upcoming
  • Strategic partner Solvay engaged
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.