Australia's Sunrise Energy Metals gains most in two weeks on Lockheed Martin supply deal

Sunrise Energy Metals

24/10/2025 24:31

** Shares of Australia's Sunrise Energy Metals SRL.AX rise as much as 15.6% to A$5.49, logging their biggest intraday pct gain since October 10

** Battery raw materials supplier says it will cooperate with U.S. defence contractor Lockheed Martin Corporation LMT.N on establishing an Australia-U.S. scandium supply chain

** Lockheed Martin secures an option to purchase the first 15 tonnes per annum of scandium oxide from the Syerston project in New South Wales over an initial five-year period, or approximately 25% of expected production from the site

**YTD, stock has surged more than 20-fold

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))