Viridis Mining Secures A$4M for Colossus Project

Viridis Mining and Minerals Limited (AU:VMM) has released an update.

Viridis Mining and Minerals Limited has successfully raised A$4 million through a two-tranche equity placement at A$0.52 per share, backed by new and existing institutional investors. The funds will expedite the Colossus Project’s critical developments, such as resource estimates, feasibility studies, and environmental approvals, with a goal to support a Final Investment Decision by the end of 2025. The company is thrilled with the potential of the Colossus Project to influence the cost curve for Rare Earth projects, following impressive test results from its innovative low-cost production method.

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