Viridis Mining and Minerals (VMM) Q2 2026 TU earnings summary

Executive summary

• Achieved landmark environmental approval for the Colossus Rare Earth Project, receiving the Preliminary License (PL) from Minas Gerais, Brazil, de-risking the development timeline and enabling advanced engagement with offtake partners and financiers.

• Secured major financing milestones, including non-binding Letters of Support from Bpifrance, Export Development Canada (EDC), and Export Finance Australia (EFA), providing clear visibility on aggregate debt capacity for project funding.

• Executed a US$30 million strategic equity investment agreement with ORE Investments and Régia Capital, with Tranche 1 funding of US$5 million received, supporting the path to Final Investment Decision (FID) in 2H 2026.

• Advanced development of the Rare Earth Research and Processing Centre (CPTR) in Poços de Caldas, with construction and commissioning expected by end of Q1 2026 and demonstration plant operations in Q2 2026.

• Strengthened board with the appointment of Marcus Silberman as Non-Executive Director, bringing extensive global capital markets and mining experience.

Financial highlights

• Exploration expenditure for the quarter was $2,253k.

• 2,000,000 shares issued on conversion of unlisted options; 274,726 shares issued to the Chairman as part of a placement; 1,200,000 performance rights issued to Directors.

• Net cash from financing activities for the quarter was $8,625k, with cash and cash equivalents at period end of $15,158k.

• Payments to related parties and associates totaled $239k for the quarter.

Outlook and guidance

• On track to secure the Installation License and commence construction of the Colossus Project in 2H 2026.

• Coordinated capital strategy with leading ECAs and strategic equity partners provides depth and certainty as the company advances toward FID.

• CPTR demonstration plant to be operational in Q2 2026, supporting transition to commercial production.