Australia's Viridis Mining up on positive valuation of Brazil rare earth project

Viridis Mining and Minerals

09/07/2025 06:03

** Shares of Viridis Mining and Minerals VMM.AX rise as much as 12.6% to A$0.58, their highest level since October 9, 2024

** Stock logs biggest intraday pct. gain since June 12

** Co released highlights from its prefeasibility study of its Colossus rare earth project in Minas Gerais, Brazil

** Says, project has pre-tax net present value (NPV) of about $1.41 bln based on conservative 20-year life of mine and NdPr price assumption of $90/kg

** Adds, project has pre-tax NPV of $773 mln based on spot price of $63/kg NdPr

** About 1.1 mln shares change hands, 2.1x the 30-day average

** Stock up 72.7% YTD

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))