ASX
171 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Maiden MREC Product from Southern Complex
Viridis Mining and Minerals reports exceptional results from its maiden Mixed Rare Earth Carbonate (MREC) production at the Southern Complex, achieving industry-leading 78% MREO recoveries and demonstrating the potential of the Colossus Project as a world-leading Ionic Adsorption Clay (IAC) project.
Better than expected
 
ASX
178 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Application for quotation of securities - VMM
Viridius Mining and Minerals Limited (VMM) has applied for quotation of 1,712,308 ordinary fully paid shares on the ASX, issued at an issue price of AUD 0.52.
ASX
178 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Cleansing Notice
Viridis Mining and Minerals Limited (ASX:VMM) issued 1,712,308 fully paid ordinary shares on December 5, 2024, as part of a capital raising, providing notice of compliance with Section 708A of the Corporations Act 2001.
ASX
179 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Exceptional Step-Out Intercepts Continue at Cupim South
Viridis Mining reports exceptional rare earth element drill results at its Colossus Project in Brazil, including a 50-meter intercept grading 8,462 ppm TREO from surface, significantly expanding resource potential and paving the way for a substantial resource upgrade.
Better than expected
 
ASX
184 days, 5 hours ago 
VMM
Viridis Mining and Minerals Limited
Results of Meeting
Viridis Mining and Minerals Limited (ASX: VMM) reports that all resolutions put to shareholders at its 2024 Annual General Meeting on November 29, 2024, were carried.
Capital raise
 
ASX
193 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
An Afternoon with ORDS - Rare Earths Conference
Viridis Mining and Minerals Ltd announced a globally significant maiden mineral resource estimate for its Colossus Ionic Clay Project in Brazil, highlighting high-grade rare earth elements and exceptional metallurgical recoveries.
Better than expected
 
Capital raise
 
ASX
199 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Southern Complex Achieves Highest Ever Ionic Recoveries
Viridis Mining achieved record-high ionic recoveries at its Southern Complex in Brazil, exceeding previous results at the Colossus project and significantly improving the project's economic outlook.
Better than expected
 
ASX
207 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Refining, Manufacturing & Recycling Partnership Progression
Viridis Mining and Minerals is progressing downstream rare earth oxide refining, magnet manufacturing, and recycling partnerships, aiming to become a leading producer of refined rare earth oxides in South America.
ASX
214 days, 8 hours ago 
VMM
Viridis Mining and Minerals Limited
Notice of Annual General Meeting/Proxy Form
Viridis Mining and Minerals Limited (ASX: VMM) has announced its 2024 Annual General Meeting (AGM) will be held on November 29, 2024, with shareholders urged to vote by attending in person or by proxy.
Capital raise
 
ASX
214 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Cupim South Drilling Paves Way for Major Resource Upgrade
Viridis Mining's Cupim South drilling in Brazil reveals exceptionally thick, high-grade rare earth zones, paving the way for a major resource upgrade and potential long-life mine plan.
Better than expected
 
ASX
230 days, 9 hours ago 
VMM
Viridis Mining and Minerals Limited
Annual General Meeting Details
Viridis Mining and Minerals Limited (ASX: VMM) announced its 2024 Annual General Meeting will be held on November 29, 2024, and the closing date for director nominations is October 18, 2024.
ASX
230 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
VMM Receives Firm Commitments for A$4 Million Placement
Viridis Mining secures A$4 million in a well-supported placement from institutional investors to accelerate its Colossus Rare Earth Project, aiming for a final investment decision by the end of 2025.
Better than expected
 
ASX
234 days, 11 hours ago 
VMM
Viridis Mining and Minerals Limited
Trading Halt
Viridis Mining and Minerals Limited (ASX: VMM) has requested a trading halt pending the release of an announcement regarding a capital raising, with the halt expected to last until at least Monday, October 14, 2024.
Capital raise
 
ASX
254 days, 1 hours ago 
VMM
Viridis Mining and Minerals Limited
Corporate Governance Statement
Viridis Mining and Minerals Limited's corporate governance statement, current as of September 20, 2024, details the company's adherence to ASX Corporate Governance Council recommendations, highlighting areas of compliance and providing explanations for any deviations.
ASX
254 days, 1 hours ago 
VMM
Viridis Mining and Minerals Limited
Annual Report to shareholders - 30 June 2024
Viridis Mining and Minerals Limited's 2024 annual report highlights significant progress at its Colossus Rare Earths project in Brazil, including a maiden mineral resource estimate of 201Mt @ 2,590ppm TREO and strong metallurgical test results, despite a substantial net loss.
Worse than expected
 
Capital raise
 
ASX
292 days, 10 hours ago 
VMM
Viridis Mining and Minerals Limited
Strategic Expansion of the Colossus REE Project
Viridis Mining and Minerals expands its Colossus REE Project with the acquisition of seven new tenements for a total cost of AUD $131k, strategically enhancing its landholding in the Centro Sul and Cupim South prospects.
Better than expected
 
ASX
305 days, 5 hours ago 
VMM
Viridis Mining and Minerals Limited
Quarterly Activities/Appendix 5B Cash Flow Report
Viridis Mining and Minerals reports significant progress at its Colossus rare earth project, including a maiden mineral resource estimate, promising metallurgical test results, and strategic joint venture, alongside advancements in its Canadian and Australian projects.
Better than expected
 
ASX
306 days, 10 hours ago 
VMM
Viridis Mining and Minerals Limited
Colossus Cupim South Step-Out Drilling Yields Best Results
Viridis Mining and Minerals reports exceptional drilling results at its Colossus Project, highlighting a large, high-grade TREO footprint at the Cupim South extension and significant improvements in the Northern Concessions.
Better than expected
 
ASX
319 days, 10 hours ago 
VMM
Viridis Mining and Minerals Limited
Significant Breakthrough in Colossus Metallurgical Testing
Viridis Mining and Minerals Ltd. (ASX: VMM) announced a significant breakthrough in metallurgical testing at its Colossus project, achieving the highest ionic leaching recoveries globally for this type of testing.
Better than expected
 
ASX
325 days, 8 hours ago 
VMM
Viridis Mining and Minerals Limited
Brazil Virtual Resources Presentation - Retraction Statement
Viridis Mining and Minerals Limited retracts statements made in their July 9th and 10th investor presentations regarding the Colossus Ionic Clay Project due to a lack of reasonable basis.
Worse than expected
 
VMM 
Viridis Mining and Minerals Limited 
ASX

VMM Receives Firm Commitments for A$4 Million Placement

Sentiment:
 Capital Raise Announcement
 13 October 2024 6:22 PM

Viridis Mining secures A$4 million in a well-supported placement from institutional investors to accelerate its Colossus Rare Earth Project, aiming for a final investment decision by the end of 2025.

Better than expected
  The successful A$4 million placement exceeded expectations, demonstrating strong investor confidence in the company and its Colossus project.  The exceptional maiden MREC results from the Colossus project significantly exceeded expectations, showcasing superior economics and potential to disrupt the industry. 

Summary
  • Viridis Mining raised A$4 million through a two-tranche placement to institutional investors.
  • The placement was priced at A$0.52 per share, representing a discount to recent market prices.
  • Funds will be used to advance the Colossus Project, including resource estimate updates, MREC testing, feasibility studies, and demonstration plant construction.
  • The company expects to be funded through to the Definitive Feasibility Study (DFS) by the end of 2025, pending shareholder approval for Tranche Two and option exercise.
  • The Colossus Project's maiden mixed rare earth carbonate (MREC) results showed high recoveries using a low-cost process.
  • Tranche One of the placement will raise approximately A$3.1 million, while Tranche Two will raise approximately A$0.9 million, subject to shareholder approval at the AGM on November 29, 2024.
Sentiment

Score: 8

Explanation: The announcement is overwhelmingly positive, highlighting successful fundraising, strong investor support, and exceptional project results. However, the dependence on shareholder approval and option exercise introduces a degree of uncertainty.

Positives
  • Successful A$4 million placement from institutional investors demonstrates strong market confidence.
  • Excellent maiden MREC results from the Colossus Project showcase superior basket value and recoveries compared to global peers.
  • Low-cost processing flowsheet enhances project economics.
  • Sufficient funding secured to reach the Definitive Feasibility Study (DFS) and Final Investment Decision (FID).
  • Positive discussions with strategic investors, off-takers, and financiers.
Negatives
  • Tranche Two of the placement requires shareholder approval at the AGM.
  • The placement is not underwritten.
  • Funding to the DFS is contingent on the exercise of 8,000,000 unquoted options.
Risks
  • Shareholder approval is required for Tranche Two of the placement.
  • The success of the project depends on the successful completion of feasibility studies and obtaining necessary permits.
  • Market conditions and commodity prices could impact the project's viability.
  • Failure to secure off-take agreements could delay or hinder project development.
Future Outlook

Viridis expects to be funded through to the Definitive Feasibility Study (DFS) in support of a Final Investment Decision (FID) targeted for the end of 2025, assuming shareholder approval for Tranche Two and exercise of the 8,000,000 unquoted options.

Management Comments
  • 'The support that we continue to receive from existing and new investors in this well supported Placement, is vindication of the remarkable asset we have on our hands and an acknowledgment by the investment community that Colossus is viewed as a leading Rare Earth Project globally.'
  • 'This Placement has been undertaken following the outcome of our Maiden MREC testing campaign, which displayed unprecedented results in the industry, provided insight into the potential groundbreaking economics and showcased the disruptive nature of a true ionic clay project such as Colossus and why it has the potential to re-set the cost curve.'
  • 'With the RC drilling program now essentially complete for the resource upgrade, the Companys largest expenditure activity, this Placement provides Viridis with a long runway into 2025 to continue meeting its ambitious development targets.'
  • 'With the positive discussions being held with strategic investors, off-takers, and financiers, the Placement now has Viridis well capitalised to keep hitting key milestones, de-risking the project timeline and creating value for our new and existing shareholders as we proceed towards FID.'
Industry Context

Viridis's successful placement and strong MREC results position the company favorably within the growing rare earth elements market. The low-cost processing method could provide a competitive advantage against global peers.

Next Steps
  • Issue of an updated Resource Estimate
  • MREC testing on a bulk composite from the southern concessions
  • Finalisation of Prefeasibility Study and commencement of Definitive Feasibility Study
  • Design and construction of the demonstration plant
  • Preparation and submission of environmental approvals
  • General working capital
Key Dates
  • 24 September 2024: Colossus Maiden Mixed Rare Earth Carbonate (MREC) Product ASX announcement
  • 14 October 2024: ASX Release announcing A$4 million placement
  • 17 January 2025: Expiry date for 8,000,000 unquoted options
  • 21 October 2024: Tranche One Settlement
  • 22 October 2024: Expected Date of ASX Quotation of Tranche One New Shares
  • 29 November 2024: AGM for Approval of Tranche Two
  • Late November 2024: Tranche Two Settlement and Expected Date of ASX Quotation of Tranche Two New Shares
  • End of 2025: Targeted Final Investment Decision (FID)
Keywords
Rare Earth, Colossus Project, MREC, Placement, Viridis Mining, Feasibility Study, Funding, Investment, Australia
VMM 
Viridis Mining and Minerals Limited 
ASX
Sector: Materials
 
Filings with Classifications
Capital raise
26 May 2025 7:16 PM
Operational Update
  • Viridis and Viridion are well-placed to capitalize on significant funding opportunities provided by two FINEP / BNDES Public Calls, which total R$8 Billion (approximately US $1.4 Billion) for strategic mineral transformation and R&D centers.
  • The potential funding available will fast-track the Colossus and Viridion development timelines, indicating a future capital injection to accelerate project progress.
Better than expected
26 May 2025 7:16 PM
Operational Update
  • The document highlights 'exceptional project economics even at todays cyclical low rare earth prices', indicating strong performance despite challenging market conditions.
  • The successful delivery of the first locally sourced rare earth oxides to Latin America's only magnet manufacturer is described as a 'significant milestone', surpassing typical expectations for project development.
  • The unique positioning of Viridion as the 'only local source of oxides to Brazil and broader Latin America' provides a strategic advantage that exceeds standard market positioning.
Better than expected
30 April 2025 12:14 AM
Quarterly Activity Report
  • The JORC Mineral Resource Estimate (MRE) at the Colossus Project increased by 140%, reaching 493Mt @ 2,508ppm TREO and 601ppm MREO, which is better than previous estimates.
Capital raise
13 March 2025 12:50 AM
Interim Financial Report
  • The company completed a $3.5 million placement on February 4, 2025, at $0.33 per share.
  • The company completed a placement to raise A$4 million through an equity issue at $0.52 per share in October 2024.
Better than expected
13 March 2025 12:50 AM
Interim Financial Report
  • The company's net loss after tax decreased compared to the previous year, indicating improved financial performance.
Better than expected
24 February 2025 10:08 PM
Scoping Study Announcement
  • The Colossus project's economics, including a pre-tax NPV8 of US$1.43 billion and an IRR of 43%, suggest better than expected results.
Better than expected
12 February 2025 9:14 PM
Project Update
  • The Colossus project boasts the largest and highest-grade MREO Measured & Indicated IAC resource globally.
  • Metallurgical testing shows industry-leading MREO recoveries of 76-78% using a cost-efficient and environmentally friendly process.
Capital raise
3 February 2025 5:27 PM
Reinstatement Announcement
  • The reinstatement of trading is directly linked to an announcement regarding a capital raising.
  • The company is expected to announce details of the capital raising soon.
Capital raise
29 January 2025 5:16 PM
Trading Halt Request
  • The company has requested a trading halt pending an announcement regarding a capital raising.
Capital raise
27 January 2025 4:32 PM
Environmental and Regulatory Update
  • The company is continuing to focus on project financing discussions.
Better than expected
21 January 2025 6:35 PM
Resource Upgrade Announcement
  • The resource size increased by 140%, which is significantly better than expected.
  • The Measured & Indicated resource is now the largest and highest grade globally, which is better than industry standards.
Better than expected
21 January 2025 5:27 PM
Exploration Update
  • The resource estimate has increased by 140%, which is better than expected.
  • The project has the largest and highest-grade MREO resource in the Measured & Indicated categories globally, which is better than expected.
  • Metallurgical recoveries are industry-leading, which is better than expected.
Better than expected
11 December 2024 5:56 PM
Exploration Update
  • The results are better than expected due to the industry-leading 78% MREO recoveries, which exceed typical recoveries in similar projects.
  • The low impurity level of approximately 0.7% is significantly better than global benchmarks for public IAC projects.
  • The high TREO content of 58% in the final MREC product, along with a 38% MREO/TREO ratio, surpasses expected values and indicates a high-quality deposit.
Better than expected
3 December 2024 5:35 PM
Exploration Update
  • The drill results were significantly better than expected due to the discovery of multiple exceptionally thick and high-grade rare earth intercepts, exceeding previous expectations for both grade and width.
Capital raise
28 November 2024 11:38 PM
Annual General Meeting Results
  • Approval of a 10% placement facility was granted.
  • Ratification of prior share issues (April and October placements) was approved.
Better than expected
19 November 2024 5:19 PM
Investor Presentation
  • The high-grade nature of the MRE, exceeding expectations, and the exceptional metallurgical recoveries are significantly better than anticipated.
Capital raise
19 November 2024 5:19 PM
Investor Presentation
  • $4 million capital raise completed on 14 October 2024
Better than expected
13 November 2024 5:44 PM
Metallurgical Test Results
  • The ionic recoveries achieved at the Southern Complex significantly exceeded expectations, surpassing all previous results at the Colossus project and demonstrating a superior economic profile.
Capital raise
29 October 2024 9:17 PM
Annual General Meeting Notice
  • Resolution 4 seeks shareholder approval for a 10% placement facility, potentially raising additional capital.
  • Resolution 10 seeks approval to issue 1,712,308 October Placement Shares to Tranche 2 participants, potentially raising approximately $0.9 million.
Better than expected
29 October 2024 6:51 PM
Exploration Update
  • The drilling results significantly exceeded expectations, with multiple intersections revealing exceptionally high grades and thicknesses of rare earth elements, particularly MREOs, far surpassing previous models.
Better than expected
13 October 2024 6:22 PM
Capital Raise Announcement
  • The successful A$4 million placement exceeded expectations, demonstrating strong investor confidence in the company and its Colossus project.
  • The exceptional maiden MREC results from the Colossus project significantly exceeded expectations, showcasing superior economics and potential to disrupt the industry.
Capital raise
9 October 2024 6:42 PM
Trading Halt Announcement
  • The company is undertaking a capital raising.
Capital raise
20 September 2024 4:22 AM
Annual Report
  • The company's ability to issue additional shares under the Corporation Act 2001 to raise further capital. The Group has a history of successfully raising funds from equity raisings in the past
Worse than expected
20 September 2024 4:22 AM
Annual Report
  • The company reported a significant net loss after tax of $8,314,168 for FY2024, substantially exceeding the previous year's loss of $814,226, indicating worse than expected financial performance.
Better than expected
12 August 2024 7:21 PM
Exploration Update
  • The company acquired new tenements at a low cost, expanding its landholding in key prospects.
  • Drilling results indicate high-grade mineralisation in the Cupim South Extension.
Better than expected
31 July 2024 12:51 AM
Quarterly Activity Report
  • The company announced a globally significant maiden MRE for the Colossus IAC Project of 201Mt @ 2,590ppm TREO with 668ppm MREO.
  • Metallurgical test work at the Colossus IAC Project achieved high bulk composite sample recoveries globally, averaging 79% recovery in a 30-minute leach cycle.
Better than expected
29 July 2024 7:28 PM
Exploration Update
  • The drilling results are better than expected due to the high TREO grades and MREO concentrations discovered at the Cupim South extension.
  • The infill drilling at the Northern Concessions returned grades over twice the block model estimates, indicating a significant improvement in the resource potential.
Better than expected
16 July 2024 7:15 PM
Missing type for ID: 2009
  • ASX:VMM announces better than expected results.
Worse than expected
10 July 2024 9:28 PM
Missing type for ID: 3480
  • ASX:VMM announces worse than expected results.
Better than expected
2 July 2024 6:58 PM
Market Announcement
  • The granting of the Cupim South mining licenses and Centro Sul exploration licenses is better than expected as it secures critical tenements for the company's development strategy.
Better than expected
11 June 2024 7:13 PM
Exploration Update
  • The drilling results have exceeded expectations by discovering higher grades and extending the mineralized zones beyond the previously known resource area.
Better than expected
3 June 2024 6:55 PM
Mineral Resource Estimate
  • The Colossus project has a high MREO content compared to its peers.
Better than expected
8 May 2024 7:27 PM
Investor Presentation
  • The document highlights better than expected results due to the high grades of rare earth elements found near the surface.
  • The document highlights better than expected results due to the high recoveries achieved in initial metallurgical testing.
  • The document highlights better than expected results due to the strategic partnerships and government support secured.
Better than expected
7 May 2024 6:31 PM
Exploration Update
  • The drilling results at Ribeirao encountered significantly higher grades than previously anticipated, improving the potential resource estimate.
  • The mineralized footprint at Cupim South has doubled, indicating a larger resource potential than initially expected.
Better than expected
29 April 2024 6:14 PM
Quarterly Activity Report
  • The drilling results exceeded expectations with high-grade zones and new discoveries.
  • Metallurgical testing showed exceptional ionic adsorption recoveries.
  • The company secured additional mining rights and expanded its land position.
Capital raise
17 April 2024 7:49 PM
Trading Halt Request
  • The company is undertaking a capital raising.
  • The details of the capital raising will be released in a subsequent announcement.
Better than expected
17 April 2024 6:26 PM
Metallurgical Test Results Announcement
  • The maiden bulk met test work completed at Colossus exceeded expectations.
  • The average ionic recoveries of magnet rare earth elements (MREE), including Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb), outperformed every publicly known IAC prospect and deposit globally.
Better than expected
9 April 2024 6:30 PM
Exploration Update
  • The discovery of the highest peak grade publicly reported by any company within the entire Complex of 27,087ppm TREO is better than expected.
Capital raise
2 April 2024 6:07 PM
Joint Venture Announcement
  • The Parties acknowledge and agree that on and from the Commencement Date (being the date the JV Co is incorporated), a detailed budget and funding model will be developed to inform future funding requirements, which must be agreed by both Parties.
Better than expected
2 April 2024 6:07 PM
Joint Venture Announcement
  • The joint venture aims to be the first producer of refined Rare Earth Oxides (REO) in Brazil, utilizing innovative separation and recycling technologies, which is better than the current industry standard.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.