Viridis Mining and Minerals (VMM) Q4 2026 TU earnings summary

Executive summary

• Installation Licence application submitted for Colossus Rare Earth Project, advancing toward construction and development.

• First Mixed Rare Earth Carbonate (MREC) produced at the demonstration plant, with recoveries exceeding 80% in July 2026, surpassing Pre-Feasibility Study (PFS) assumptions.

• Entered a Letter of Intent with Solvay for long-term offtake and technical partnership, supporting downstream industrialisation in Brazil.

• EU Commissioner visit and G7 Critical Minerals Forum participation highlight international recognition and strategic importance.

• Definitive Feasibility Study (DFS) progressing, with completion targeted for August 2026.

Financial highlights

• Cash position at 30 June 2026: A$20.4 million, with an additional US$25 million (~A$36 million) available, totaling A$56 million in pro forma funding.

• Exploration expenditure for the quarter: $5.1 million.

• 200,000 shares issued in April and May 2026 from option exercises.

Outlook and guidance

• Fully funded to advance Colossus Project through Final Investment Decision (FID) and early execution.

• DFS completion and updated Reserve expected August 2026, supporting EPCM contract and project financing.

• Targeting FID in 2H 2026 and first production in H1 2028.