By Digifin Pty Ltd · About this coverage
Key Points
- FID approved for the Syerston Scandium Project, targeting first production in 2H 2028
- Nameplate production of 60 tonnes per annum of high purity scandium oxide
- Total development capital central estimate of US$322M for the mine and refinery only
- Conditional commitment of up to US$400 million in long-term debt financing from the OSC
- $148.1 million of available cash on hand at 30 September 2026
About Sunrise Energy Metals (ASX:SRL)
Sunrise Energy Metals Limited is an ASX-listed mineral development company headquartered in Melbourne. It is developing the Syerston Scandium Project near Fifield in central-west New South Wales and owns the Sunrise Nickel-Cobalt Project, a nickel laterite deposit at the same site. The company has no producing mining operations and its securities are also quoted on the OTCQX market in the United States.
Sunrise Energy Metals (ASX:SRL) approved the Final Investment Decision to develop the Syerston Scandium Project in central-west New South Wales, moving the project toward targeted first production in 2H 2028.
The project is forecast to process 64,000 tonnes of ore per year to produce 60 tonnes of high purity (>99.9%) scandium oxide annually, with process plant recovery of 88%, a 24 month construction and commissioning period and a 32-year operating life of 21 years of mining and 11 years of processing stockpiled ore. Total development capital is a central estimate of US$322M for the mine and refinery only, excluding a metallisation plant still subject to scoping study evaluation. The FID was supported by a conditional commitment of up to US$400 million in long-term debt financing from the U.S. Department of War's Office of Strategic Capital, and Sunrise had $148.1 million of available cash on hand at 30 September 2026. Sunrise is pursuing a redomiciliation to the United States and a Nasdaq listing by Scheme of Arrangement, with a Scheme Booklet to be provided to shareholders shortly.
The OSC debt commitment is conditional, the Scheme is still to go to a Scheme Meeting, and the timing and scale of any expansion have not been determined. The release does not set out a full funding plan for development capital.
Source: Sunrise Energy Metals Limited (ASX:SRL), 2 November 2026. Summary content supplied by Digifin Pty Ltd.
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