Viridis Mining and Minerals (VMM) H2 2026 earnings summary

Executive summary

• Advanced Colossus Rare Earths Project in Brazil from technical evaluation to pre-construction, securing key permits and progressing to execution readiness.

• Completed Pre-Feasibility Study (PFS), Maiden Ore Reserve, and Definitive Feasibility Study (DFS), confirming robust project economics and technical viability.

• Secured major environmental approvals, expanded landholding to 23,468 hectares, and constructed a commercial-scale demonstration plant with strong metallurgical recoveries.

• Attracted significant strategic funding and partnerships, including equity commitments and government-backed financing pathways.

Financial highlights

• Loss after income tax for FY2026 was $6.94 million, compared to $2.66 million in FY2025.

• Cash and cash equivalents at 30 June 2026 were $20.5 million, up from $1.1 million the previous year.

• Total assets increased to $78.8 million from $29.4 million year-over-year.

• Equity raised through placements and share issues totaled over $43 million during the year.

• No dividends were paid or declared.

Outlook and guidance

• Focus remains on securing the Installation Licence, finalising binding offtake agreements, completing senior debt financing, and achieving Final Investment Decision (FID) to commence construction.

• Targeting first production from Colossus in the second half of 2028.

• Strategic equity funding and BNDES facility provide a fully funded pathway to FID.