Sunrise secures follow-on placement for A$18.865 million for the Syerston Scandium Project
2025-12-03 13:35:38 [Print]
BEIJING (Asian Metal) 3 Dec 25 - Sunrise Energy Metals Limited ("Sunrise" or the "Company") Co-Chair Robert Friedland, and Managing Director, Sam Riggall, are pleased to announce that the Company has received firm commitments to raise A$18,865,000 by way of a conditional Placement of 3,850,000 fully paid ordinary shares ("New Shares") at an issue price of $4.90 per share ("Placement Price") to sophisticated investors (the "Placement").
Sunrise MD/CEO, Sam Riggall said, "The funds raised via the two recent Placements, coupled with the potential proceeds from the future exercise of options, and the letter of conditional funding support from US EXIM Bank for up to US$67 million, provides Sunrise with an excellent line of sight to a comprehensive financing package for the Syerston Scandium Project. These additional funds will allow us now to accelerate pre-construction activities at Syerston, with the ambition of delivering a new primary source of scandium as soon as possible."
Funds raised from the Placement will be directed toward advancing on-site work at the Syerston Scandium Project. This includes pre-construction activities, including engineering; connection of water and power to site; in-fill drilling for the mine plan and for early works contracting to secure equipment on long-lead times. The aim of the work program will be to de-risk those activities on the critical path for construction to ultimately support a final investment decision.
Sunrise MD/CEO, Sam Riggall said, "The funds raised via the two recent Placements, coupled with the potential proceeds from the future exercise of options, and the letter of conditional funding support from US EXIM Bank for up to US$67 million, provides Sunrise with an excellent line of sight to a comprehensive financing package for the Syerston Scandium Project. These additional funds will allow us now to accelerate pre-construction activities at Syerston, with the ambition of delivering a new primary source of scandium as soon as possible."
Funds raised from the Placement will be directed toward advancing on-site work at the Syerston Scandium Project. This includes pre-construction activities, including engineering; connection of water and power to site; in-fill drilling for the mine plan and for early works contracting to secure equipment on long-lead times. The aim of the work program will be to de-risk those activities on the critical path for construction to ultimately support a final investment decision.
