Sunrise Energy Metals (SRL) H1 2026 earnings summary

Executive summary

• Focused on advancing the Syerston Scandium Project, including feasibility study updates and pre-construction activities, while Sunrise Nickel-Cobalt Project activities remain limited due to unfavorable market conditions.

• Net loss after tax for the half-year was $3.81 million, compared to a $2.73 million loss in the prior year period.

• Significant capital raised through three placements totaling approximately A$98 million to fund Syerston pre-construction and early works.

• Cash reserves increased to $47.94 million, with net assets rising to $47.97 million as of 31 December 2025.

Financial highlights

• Net loss after tax: $3.81 million (vs. $2.73 million loss in prior year half).

• Other income from continuing operations decreased to $60,000 (prior year: $111,000).

• Net cash outflow from operating activities: $3.58 million (prior year: $2.76 million).

• Cash reserves increased from $10.71 million to $47.94 million during the half-year.

• Equity contributions, net of transaction costs, totaled $40.95 million for the period.

Outlook and guidance

• Sufficient funds available to maintain positive cash position through at least March 2027.

• Construction of the Syerston Scandium Project expected to commence from mid-2026, pending final investment decision.

• Limited development and exploration at Sunrise Nickel-Cobalt Project until market conditions improve.