Viridis Mining and Minerals Ltd Delivers Major Resource Upgrade to Support Colossus Project Financing
Viridis Mining and Minerals Ltd (ASX: VMM) has reached an important funding milestone after substantially increasing the Mineral Resource Estimate (MRE) for its Colossus Rare Earth Project in Brazil, strengthening the project's resource base and supporting its path toward future financing. Targeted infill drilling increased geological confidence, resulting in an industry-leading Measured and Indicated Mineral Resource of 305Mt at 2,723ppm TREO and 659ppm MREO, including a Measured Resource of 31Mt at 2,858ppm TREO and 758ppm MREO.
The total Colossus resource now stands at 473Mt at 2,505ppm TREO and 592ppm MREO, while 97Mt grading above 4,000ppm TREO and 1,000ppm MREO provides a high-grade feed source for the initial years of production. The upgraded resource supports conversion of the early mine plan into Proven Ore Reserves as part of the Definitive Feasibility Study (DFS), a critical step toward project debt financing and the targeted Final Investment Decision in 2H 2026. Ongoing work includes completing the DFS, finalising project financing, advancing the Solvay offtake agreement and maintaining the target of first production in 1H 2028.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
x
Daily Dose of Buy, Sell & Hold recommendations before the market opens.
Start Your 7 Days Free Trial Now!
We use cookies to help us improve, promote, and protect our services.
By continuing to use this site, we assume you consent to this.
Read our
Privacy Policy
and
Terms & Conditions
Viridis Mining and Minerals Ltd Delivers Major Resource Upgrade to Support Colossus Project Financing
Viridis Mining and Minerals Ltd (ASX: VMM) has reached an important funding milestone after substantially increasing the Mineral Resource Estimate (MRE) for its Colossus Rare Earth Project in Brazil, strengthening the project's resource base and supporting its path toward future financing. Targeted infill drilling increased geological confidence, resulting in an industry-leading Measured and Indicated Mineral Resource of 305Mt at 2,723ppm TREO and 659ppm MREO, including a Measured Resource of 31Mt at 2,858ppm TREO and 758ppm MREO.
The total Colossus resource now stands at 473Mt at 2,505ppm TREO and 592ppm MREO, while 97Mt grading above 4,000ppm TREO and 1,000ppm MREO provides a high-grade feed source for the initial years of production. The upgraded resource supports conversion of the early mine plan into Proven Ore Reserves as part of the Definitive Feasibility Study (DFS), a critical step toward project debt financing and the targeted Final Investment Decision in 2H 2026. Ongoing work includes completing the DFS, finalising project financing, advancing the Solvay offtake agreement and maintaining the target of first production in 1H 2028.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au