Viridis Mining and Minerals Secures AU$11.5 million Placement to Accelerate Colossus Rare Earth Project

Viridis Mining and Minerals Limited (ASX: VMM) has successfully secured firm commitments to raise AU$11.5 million via a share placement at AU$0.91 per share, representing a 13% premium to the 10-day VWAP. The oversubscribed Placement includes an AU$250,000 commitment from the Chairman (subject to shareholder approval) and attracted strong institutional participation, led by an AU$5 million cornerstone investment from Brazil’s JGP Asset Management.

Following settlement, Viridis is expected to hold a pro-forma cash balance of approximately AU$58.5 million, providing full funding to advance the Colossus Rare Earth Project through Final Investment Decision (FID) and into early execution. The funds will accelerate key project milestones, including the Mixed Rare Earth Carbonate (MREC) demonstration plant, Definitive Feasibility Study (DFS), further environmental approvals, and additional drilling. Viridis’ selection for Brazil’s BNDES/FINEP Joint Support Plan enhances access to potential credit lines, equity investment, and grant funding, reinforcing its strategic ambition to establish one of the Western world’s only vertically integrated rare earth supply chains.

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