Rising demand boosts Sunrise Energy Metals Limiteds AU$46 Million placement for the Syerston Scandium Project

Highlights:

• Sunrise Energy Metals Limited (ASX: SRL) has secured AU$46 million at the time of writing through a share placement to accelerate pre-construction work at the Syerston Scandium Project.
• Investors will receive 1-for-1 unlisted options exercisable at AU$4.25 per share, while company directors — including Robert Friedland and Sam Riggall — will participate on identical terms.
• The funding will support engineering, power and water connections, in-fill drilling, and early equipment contracting as Sunrise positions Syerston as the world’s largest primary scandium supply source.

Strong backing for critical-minerals play

Australia-listed Sunrise Energy Metals Limited (ASX: SRL) announced at the time of writing that it has secured commitments to raise AU$46 million through a placement priced at AU$4.25 per share. The funds are earmarked to advance pre-construction activities at the Syerston Scandium Project in New South Wales. The company also issued unlisted options on a 1-for-1 basis, exercisable at the same price over a two-year term.

Purpose of the capital raise

The proceeds from the placement will enable key milestones at the Syerston project: engineering works, connection of power and water infrastructure, in-fill drilling for the mine plan, and procurement of long-lead equipment. The inclusion of options alongside the new shares provides participants additional leverage in Sunrise’s future growth. Directors, including co-Chairman Robert Friedland and Managing Director Sam Riggall, are participating on the same terms, subject to shareholder approval.

Why Syerston matters and the broader outlook

Sunrise highlights the Syerston Scandium Project as the world’s largest and highest-grade primary scandium deposit, targeting a supply gap in a metal used in aerospace alloys, 5G/6G infrastructure and defence applications. With global supply tight and increasing geopolitical focus on critical minerals, the timing of this capital raise is seen as strategic.

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