• Colossus Rare Earth Project confirmed as bankable and execution-ready
• High-throughput production and low-cost operations
• Strong government support and advanced procurement activities

Viridis Mining and Minerals Limited has completed the Definitive Feasibility Study (DFS) for its Colossus Rare Earth Project in Brazil, confirming the project's bankability and execution readiness. The DFS highlights the project's high-throughput production capabilities, targeting 5 million tonnes per annum of rare earths, and low-cost operations. The project is supported by strong government backing and advanced procurement activities, including competitive tendering for major equipment and the EPCM tender process. The DFS also outlines the project's compelling economics, with a pre-tax NPV8 of approximately US$1.866 billion at today's spot price, and a payback period of 2.7 years. The project financing is well advanced, with Goldman Sachs leading the debt financing process.

Pre-tax NPV8 of ~US$1.866 million, payback period of 2.7 years

The project is well positioned for financial close in Q4 2026, with near-term catalysts including binding offtake, completion of strategic equity investment, EPCM award and mobilisation, long-lead equipment orders, Installation Licence approval and closing of the senior debt facility.