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Sunrise Energy Metals ( (AU:SRL) ) just unveiled an announcement.
Sunrise Energy Metals Limited has announced a significant update to its Ore Reserve Estimate for the Syerston Scandium Project, marking an 87% increase in contained scandium. This update supports a 32-year mine life with an annual production of approximately 60 dry tonnes of scandium oxide. The project, with a forecast capital cost of US$120 million, is strategically positioned to benefit from recent Chinese export licensing restrictions, which are expected to bolster discussions with potential customers and funding agencies. The company’s CEO, Sam Riggall, highlighted the project’s low capital intensity and operational costs, emphasizing the positive outlook for the scandium market amid global trade disruptions.
The most recent analyst rating on (AU:SRL) stock is a Hold with a A$4.00 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, focusing on the extraction and production of scandium. The company is involved in projects that aim to enhance the supply of this critical metal, which is essential for various industrial applications.
YTD Price Performance: 2380.85%
Average Trading Volume: 621,152
Technical Sentiment Signal: Buy
Current Market Cap: A$718.8M
See more insights into SRL stock on TipRanks’ Stock Analysis page.