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Sunrise Energy Metals ( (AU:SRL) ) has shared an update.
Sunrise Energy Metals Limited has secured firm commitments for a follow-on placement of A$18.865 million, issuing 3.85 million shares at $4.90 per share, representing a 15.3% premium over a previous placement. The funds will accelerate pre-construction activities at the Syerston Scandium Project, including engineering and infrastructure development, positioning the company to meet the growing demand for scandium and advance towards a final investment decision.
The most recent analyst rating on (AU:SRL) stock is a Hold with a A$6.00 price target. To see the full list of analyst forecasts on Sunrise Energy Metals stock, see the AU:SRL Stock Forecast page.
More about Sunrise Energy Metals
Sunrise Energy Metals Limited is engaged in developing the Syerston Scandium Project in New South Wales, Australia, aiming to establish the world’s first primary source of mineable, high-grade scandium. The company also owns the Sunrise Nickel-Cobalt Project, which is one of the largest and most cobalt-rich nickel laterite deposits globally.
Average Trading Volume: 731,612
Technical Sentiment Signal: Buy
Current Market Cap: A$902.1M
See more insights into SRL stock on TipRanks’ Stock Analysis page.