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An announcement from Sunrise Energy Metals ( (AU:SRL) ) is now available.
Sunrise Energy Metals Limited has announced a significant increase in the Mineral Resource Estimate for its Syerston Scandium Project, following a successful drilling campaign. The updated resource estimate shows a 98% increase in contained scandium metal, with a high-grade resource increasing by 161%. The project is now supported by a 32-year mine life, producing approximately 60 tonnes of scandium oxide annually. Additionally, the company has received a Letter of Interest from the Export-Import Bank of the United States for up to US$67 million in financing, highlighting the strategic importance of scandium in industrial and defense supply chains. The recent engagement with U.S. scandium users indicates growing interest in Syerston as a strategic supplier, driven by tightening supply and rising scandium prices due to China’s export restrictions.
The most recent analyst rating on (AU:SRL) stock is a Hold with a A$4.50 price target. To see the full list of analyst forecasts on Sunrise Energy Metals stock, see the AU:SRL Stock Forecast page.
More about Sunrise Energy Metals
Sunrise Energy Metals Limited is a company operating in the mining industry, primarily focusing on the extraction and processing of scandium. The company is involved in the development of the Syerston Scandium Project, which is recognized as the world’s largest and highest-grade source of mineable scandium. Sunrise Energy Metals is strategically positioned with secured land and water rights, aiming to meet the growing market demand for scandium, especially in light of recent global supply constraints.
Average Trading Volume: 639,946
Technical Sentiment Signal: Buy
Current Market Cap: A$646.4M
Learn more about SRL stock on TipRanks’ Stock Analysis page.