Sunrise Energy Metals (SRL) H2 2025 earnings summary

Executive summary

• Strategic focus shifted to the Syerston Scandium Project, aiming to become a leading primary scandium supplier amid tightening global supply and geopolitical tensions, especially following Chinese export restrictions and US tariffs in 2025.

• Pre-development activities at Syerston accelerated, including updated feasibility studies, resource drilling, and offtake discussions with end-users in the US and Asia.

• The Sunrise Nickel-Cobalt Project remains on hold due to depressed nickel prices and Indonesian supply dominance, with minimal ongoing expenditure.

Financial highlights

• Net loss after tax for FY25 was $6.2 million, an improvement from a $7.9 million loss in FY24.

• Other income from continuing operations decreased to $453,000 (FY24: $923,000), mainly due to lower interest and government grant income.

• Exploration and evaluation expenditure totaled $1.7 million, funded from cash reserves.

• Net assets increased to $10.2 million (FY24: $8.7 million), with cash and cash equivalents rising to $10.7 million (FY24: $8.8 million).

• Working capital surplus of $10.0 million (FY24: $8.3 million).

Outlook and guidance

• Updated Syerston Scandium Project Feasibility Study expected by end of September 2025.

• Focus on securing offtake agreements and financing for Syerston, with intent to fund development through debt and equity.

• Sunrise Nickel-Cobalt Project activities to remain limited until market conditions improve.