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Viridis Mining and Minerals Limited ( (AU:VMM) ) has provided an announcement.
Viridis Mining and Minerals Limited, in collaboration with its joint venture entity Viridion, has been selected by Brazilian financial institutions BNDES and FINEP for potential government-backed funding to advance its Colossus Rare Earth Project. This funding aims to support the development of strategic mineral projects in Brazil, with Viridis now entering negotiations for a bespoke funding package. The company has also achieved significant milestones, including delivering Brazil’s first locally sourced magnetic rare earth oxides and securing strategic partnerships and investments to bolster its financial position. Additionally, Viridis is exploring expansion into the U.S. refining market and has completed a Pre-Feasibility Study for the Colossus Project, highlighting strong project economics and a robust financial outlook.
The most recent analyst rating on (AU:VMM) stock is a Buy with a A$1.60 price target. To see the full list of analyst forecasts on Viridis Mining and Minerals Limited stock, see the AU:VMM Stock Forecast page.
More about Viridis Mining and Minerals Limited
Viridis Mining and Minerals Limited operates in the mining industry, focusing on the extraction and processing of rare earth elements. The company is engaged in developing its flagship project, the Colossus Rare Earth Project, in Brazil, which includes integrated downstream refining and recycling facilities. Viridis aims to strengthen its position in the strategic minerals market, particularly in the supply chain for rare earth magnets.
Average Trading Volume: 559,150
Technical Sentiment Signal: Buy
Current Market Cap: A$86.22M
For detailed information about VMM stock, go to TipRanks’ Stock Analysis page.