The $3 billion S&P/ASX 200 Index stock rocketed 13% on Tuesday to $20.48, capping a 165% gain year to date and a 354% surge over 12 months.
Sunrise Energy develops large-scale mining and minera l processing projects built around ion-exchange technology.
In August, Sunrise secured a conditional commitment for up to US$400 million in 25-year debt financing for the Syerston Scandium Project.
The project's capital estimate has been revised upward to A$450–475 million, reflecting an expanded scope and updated costs.
The ASX 200 stock peaked at $22.40 on 11 September and have cooled since then.
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The $3 billion S&P/ASX 200 Index stock rocketed 13% on Tuesday to $20.48, capping a 165% gain year to date and a 354% surge over 12 months.
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The figure “350%” is in the headline. We could not find it in the report.
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The article, shortened and in plain language
Sunrise Energy Metals Ltd just delivered one of the wildest sessions on the ASX this year. The $3 billion S&P/ASX 200 Index stock rocketed 13% on Tuesday to $20.48, capping a 165% gain year to date and a 354% surge over 12 months.
For context, the ASX 200 Index itself is sitting 0.2% lower than it was a year ago.
Sunrise Energy develops large-scale mining and minera l processing projects built around ion-exchange technology.
The real prize is the company's flagship Syerston Project in central-west NSW, home to one of the world's largest and highest-grade primary scandium and nickel-cobalt deposits.
Scandium is a mineral with genuine supply scarcity.
In August, Sunrise secured a conditional commitment for up to US$400 million in 25-year debt financing for the Syerston Scandium Project.
Proposed US government funding could cut development and financing risk.
The project's capital estimate has been revised upward to A$450–475 million, reflecting an expanded scope and updated costs.
The initial build targets 60 tonnes per annum of high-purity scandium oxide across an estimated 32-year mine life.
The ASX 200 stock peaked at $22.40 on 11 September and have cooled since then.
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