Sunrise Energy Metals (SRL) Q1 2025 TU earnings summary

Executive summary

• Updated feasibility study for Syerston Scandium Project underway, with focus on alternative development pathways and refined product scope.

• Progress on Sunrise Battery Materials Complex, including power systems and transport route studies, to minimize project start time post-financing.

• No lost time injuries or reportable environmental incidents during the quarter.

• Exploration activities advanced in NSW and QLD, targeting limestone, rare earths, and base metals.

Financial highlights

• Cash on hand at 30 September 2024 was $7.24 million.

• Net cash used in operating activities for the quarter was $1.50 million.

• Estimated quarters of funding available: 4.8, based on current cash and outgoings.

• Payments to related parties totaled $219,000 for the quarter.

Outlook and guidance

• Ongoing engagement with EV industry participants to secure project-level equity funding and offtake agreements; timing for completion of transactions remains uncertain.

• Expanded re-assessment of Syerston Scandium Project Feasibility Study continues, with ongoing discussions for scandium supply.

• RC drilling programs planned for 2025 in QLD, pending land access and seasonal conditions.