Price, volume & events
CloseVolumeFair-value rangeOverlay
Loading market history…
Drag to zoom · double-click to reset
- Last 2026-11-06
- A$3.28
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- Upside
- Locked: sign in to view
- Mkt cap
- A$528.4M
- EV
- A$408.9M
- Cash
- A$119.7M
- Debt
- A$0
1 newer ASX announcement not yet reflected in this valuation
- Viridis Secures Binding Offtake Agreement with SolvayPost Annual Economic Arrangement
Investment view
Rating locked: sign in to view
Investment view
Our rating, thesis and what the price implies are available to subscribers.
Sign in or enter a guest codeAnnouncements
Latest 12 of 17All sources ▸- Quarterly Activities and Appendix 5B, quarter to 30 September 2026Results
- Notice of Annual General Meeting, 4 Nov 2026 (5 Oct 2026)Governance
- Annual Report to Shareholders, year ended 30 June 2026Results
- Up to US$120m strategic equity funding (20 Aug 2026)Financing
- Demonstration plant exceeds PFS recovery assumptions (7 Aug 2026)Operations
- Quarterly Activities and Appendix 5B, quarter to 30 June 2026Results
- Financing milestone via major Measured resource upgrade (9 Jul 2026)Resource Update
- Quarterly Activities and Appendix 5B, quarter to 31 March 2026Results
- Appointment of Geoff Bedford as independent non-executive director (28 Apr 2026)Leadership
- A$25m institutional placement (18 Mar 2026)Financing
- Quarterly Activities and Appendix 5B, quarter to 31 December 2025Results
- Binding US$30m strategic investment with ORE and Regia (24 Nov 2025)Economic Arrangement
Event calendar · next 12 months
4 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| No date issued; window to the end of the first half of 2027 for construction start | Installation Licence (FEAM) decision on the application lodged 19 May 2026 | Permitting | Inferred | High | Permits site development; without it construction cannot start in 2027. |
| 4 Nov 2026, 10:00am WST | 2026 AGM on 4 Nov 2026 (shareholder approvals, including items the conditional OneIM tranche requires) | Governance | Confirmed | High | Shareholder approval is a condition of the OneIM second tranche; the outcome decides whether up to A$44.8m of committed equity completes. |
| Due within one month of quarter end (ASX Listing Rule 5.5) | December 2026 quarter Appendix 5B and quarterly activities report | Results | Inferred | Medium | Shows the quarterly burn after EPCM bridging, whether the ORE/Regia tranche and OneIM tranche 2 are received, and debt-process progress. |
| Inferred from 12-month manufacturing period | Expected delivery window for the residue pressure filtration package (about 12 months manufacture from Sep 2026 award) | Construction Or Commissioning | Inferred | Medium | Long-lead equipment critical path; a slip would push the 2028 first production target. |
Executive roster
As of 2026-11-02Background checks ▸Current executive directors, chief executive, CFO, company secretary and projects manager from the FY26 annual report corporate directory and review (CFO appointment), the issuer leadership page via the local management summary and the April 2026 board release. Non-executive directors are outside this roster.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Agha Shahzad Pervez | Executive Chairman | Executive Director | 2022-01-17 | Annual Report to Shareholders, year ended 30 June 2026 · Management assessment summary and executive profiles (local research product) |
| Rafael Moreno | Managing Director and Chief Executive Officer | Executive Director · Chief Executive | 2025-08-14 | Annual Report to Shareholders, year ended 30 June 2026 · Appointment of Rafael Moreno as Managing Director (14 Jul 2025) · Management assessment summary and executive profiles (local research product) |
| Ramon Soares | Chief Financial Officer | Finance | 2026-02-10 | Annual Report to Shareholders, year ended 30 June 2026 |
| Shane Rho | General Manager Projects and Engineering | Operations · Technical | — | Management assessment summary and executive profiles (local research product) · Annual Report to Shareholders, year ended 30 June 2026 |
| Carly Terzanidis | Company Secretary | Company Secretary | — | Annual Report to Shareholders, year ended 30 June 2026 |
devCoverage status: Partial
Portfolio detail
Assets
Core asset
Colossus Rare Earths Project (Pocos de Caldas, Brazil)
BR
DFS Unfunded Developer100% ownedRare Earths
DFS complete 20 Aug 2026; EPCM bridging and long-lead orders placed; equity commitments addressed; senior debt process open; Installation Licence applied; FID not taken
- Study
- DFSs
- Post-tax NPV (study prices, attributable)
- US$1.2bd
- NPV restated at our deck (attributable)
- Locked
- IRR
- 3,640.0%s
- Initial capex (100%)
- US$449.0ms
- Capital intensity
- US$100,990/(t/yr)d
- LoM AISC
- A$37,573/ts
- Mine life
- 25.0 yrss
Project location
Approximate location
Loading imagery…
© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.
Published study economicsIssuer or study metrics
NPVUS$1.2B8% discount
IRR36.4%Published return
Initial capexUS$449MPublished capital estimate
Operating cost81,000,000USD/yr C1
DFS spot case, NdPr US$129/kg at 23 Jul 2026, 75% payability, 25-year Production Target, unlevered after tax; capex inclusive of contingency.
Resources & reserves6
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | total (Measured, Indicated and Inferred) | 473 Mt | 2,505 ppm TREO; 592 ppm MREO | Rare Earths | 2026-07-09 |
| Mineral Resource | Measured | 31 Mt | 2,858 ppm TREO; 758 ppm MREO | Rare Earths | 2026-07-09 |
| Mineral Resource | Indicated | 274 Mt | 2,707 ppm TREO; 648 ppm MREO | Rare Earths | 2026-07-09 |
| Mineral Resource | Inferred | 168 Mt | 2,108 ppm TREO; 470 ppm MREO | Rare Earths | 2026-07-09 |
| Ore Reserve | Proved and Probable | 200.1 Mt | 2,894 ppm TREO; 715 ppm MREO | Rare Earths | 2026-08-20 |
| Ore Reserve | Probable (maiden, superseded) | 200.6 Mt | 2,640 ppm TREO; 740 ppm MREO | Rare Earths | 2025-08-20 |
Milestones4
- Installation Licence (IL) granted by FEAM (application lodged 19 May 2026)
Pending · High materiality
- Final Investment Decision after senior debt close and definitive offtake
Pending · High materiality
- First production targeted in 2028
Pending · High materiality
- Residue pressure filtration package delivery (about 12 months manufacture from Sep 2026 award)
Pending · Medium materiality
Permits & approvals2
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Preliminary Licence for the Northern Concessions (EIA/EIR approved) | Minas Gerais, Brazil | Granted | — | No |
| Installation Licence (FEAM) | Minas Gerais, Brazil | Pending | — | Yes |
Economic studies2
| Study | Stage | Status | Date | Summary |
|---|---|---|---|---|
| Colossus Pre-Feasibility Study | PFS | Superseded | 2025-07-09 | PFS base case with long-term NdPr US$90/kg: pre-tax NPV8 about US$1.41bn; spot case US$63/kg NdPr: pre-tax NPV8 about US$773m; 20-year case. |
| Colossus Definitive Feasibility Study | DFS | Current | 2026-08-20 | 5 Mtpa, 25-year Production Target; spot-case after-tax NPV8 US$1,196m at 8%, IRR 36.4%, payback 2.7 years; Western floor case US$1,190m; capex US$449m including contingency; C1 US$81m a year. |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
A$119.7m cash at 30 Sep 2026 plus about A$80.4m of committed, unpaid equity (OneIM tranche 2 and the binding ORE/Regia remainder) covers the equity component of the US$449m DFS capex; senior debt (targeted at about 70% of capex) is not committed, and the BNDES R$77.5m facility is approved but not drawn.
Capital structure
Ownership and dilution
- Ordinary shares
- 161.1M
- Fully diluted
- 168.3M
Shares: 129,665,698 at 30 Jun 2026 (note 18) plus 560,000 on 2 Jul 2026 (rights conversion) plus 30,877,175 placement shares issued 27-31 Aug 2026 = 161,102,873. Performance rights: 7,541,669 at 30 Jun 2026 less 560,000 converted plus 250,000 issued 9 Jul 2026 = 7,231,669. No options outstanding. Fully diluted = 168,334,542.
Security classes2
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Fully paid ordinary shares | Ordinary Share | 161.1M | — | — |
| Performance rights outstanding (vendor, executive, director and employee classes, several vesting on DFS, FID, financing and first production) | Performance Right | 7.2M | — | — |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY2025AA | FY2026AA |
|---|---|---|---|---|
| Operations | ||||
| Refined REO production | t | 0.00 | 0.00 | |
| Profit and loss | ||||
| Revenue | AUDm | 0.0 | 0.0 | |
| Operating costs (C1 plus royalties and fees) | AUDm | 0.0 | 0.0 | |
| EBITDA (revenue less operating costs) | AUDm | 0.0 | 0.0 | |
| Net profit after tax | AUDm | (2.7) | (6.9) | |
| Cash flow | ||||
| Operating cash flow (after tax, before capex) | AUDm | (2.0) | (1.0) | |
| Capex (initial plus sustaining and expansion) | AUDm | 9.3 | 22.7 | |
| Free cash flow | AUDm | (11.3) | (23.7) | |
| Balance sheet | ||||
| Cash at year end | AUDm | 1.1 | 20.5 | |
| Borrowings | AUDm | 0.0 | 0.0 | |
| Net debt (negative = net cash) | AUDm | (1.1) | (20.5) | |
| Per share | ||||
| Shares (basic actual, fully diluted forecast) | m shares | 86.2 | 129.7 | |
| Basic EPS | AUD/share | (0.04) | (0.06) | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | — | — | |
| P / E (x, current market cap) | x | (215.4) | (82.6) | |
| FCF yield (current market cap) | % | -2.0% | -4.1% | |
| EBITDA margin | % | — | — | |
| Net debt / EBITDA (x) | x | — | — | |
KPI history
Operating metrics
Operating metric source table7
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Cash at 30 Sep 2025 (prior-quarter column of the Dec 2025 Appendix 5B) | Company | Sep 2025 quarter | Point In Time | 10,092,000 AUD | Reported |
| Cash at 31 Dec 2025 | Company | Dec 2025 quarter | Point In Time | 15,158,000 AUD | Reported |
| Cash at 31 Mar 2026 (after the A$25m placement) | Company | Mar 2026 quarter | Point In Time | 29,829,000 AUD | Reported |
| Cash at 30 Jun 2026 (audited) | Company | Jun 2026 quarter | Point In Time | 20,494,420 AUD | Reported |
| Cash at 30 Sep 2026 (after the A$117m August placement) | Company | Sep 2026 quarter | Point In Time | 119,702,000 AUD | Reported |
| Demonstration plant MREO recovery (PFS assumed 76%) | Colossus | Stabilised operation, to 7 Aug 2026 | Other | 78.7 pct | Reported |
| DFS AISC, spot case, net of DyTb credits | Colossus | DFS 25-year Production Target average | Other | 26.7 USD/kg NdPr | Reported |
Company guidance2
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| First Production | colossus | 2028 | — | — year | Current |
| Annual Refined Reo Production (25 Year Average) | colossus | DFS Production Target | 4,446 | 4,446 t/yr | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-09-09 | Debt | BRL 77.5M | — | — | Announced | — |
| 2026-08-31Ann. 2026-08-20 | Raising | A$117M | 30.9M | — | Completed | — |
| 2026-08-20 | Raising | A$170M | — | — | Ongoing | — |
| 2026-03-25Ann. 2026-03-18 | Raising | A$25M | 13.2M | — | Completed | — |
| 2025-11-24 | Raising | A$46M | — | — | Ongoing | — |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Benefits and burdens on the Colossus project and the company from the FY26 annual report, the Sept 2026 quarterly report and the August 2026 DFS, funding and EPCM releases; live arrangements are listed with their terms, and the Viridion joint venture and terminated items are recorded.
Binding strategic investment by two Brazilian asset managers, staged to FID; funds the equity component. Remaining subscriptions are counted as committed funding, not cash, and their shares are not in the share count.
Strategic Partnership · Active- Counterparties
- ORE Investments Ltda · Regia Capital Ltda
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Benefit
- Period
- From 2025-11-24; no end date stated
- Key terms
- Total committed: 30 USD m
Tranche 1 received: 5 USD m
Remaining under agreement: 25 USD m
How it affects our valuation
No valuation treatment is available for this arrangement.
Cornerstone equity commitment that, with ORE/Regia and other investors, addresses the equity requirement of the DFS capex. Tranche 2 is not in cash or shares at the cutoff.
Strategic Partnership · Conditional- Counterparties
- One Investment Management
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Benefit
- Period
- From 2026-08-20; no end date stated
- Key terms
- Tranche 1 raised: 61.3 AUD m
Tranche 2 (indicative): 44.8 AUD m
Total commitment: 75 USD m
How it affects our valuation
No valuation treatment is available for this arrangement.
Non-binding LoI for supply of MREC, with Supply Offtake Agreement and Licensing and Technical Services Agreement under negotiation; Solvay is named in the DFS refining-circuit basis. Not yet a binding offtake, so the DFS price realisation (75% payability) is the valuation basis.
Offtake · Announced- Counterparties
- Solvay S.A.
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Benefit
- Period
- From 2026-06-02; no end date stated
- Key terms
- Product: MREC text
Status: commercial terms largely agreed; binding documentation pending text
How it affects our valuation
No valuation treatment is available for this arrangement.
50% downstream processing and recycling joint venture for magnet materials and the Centre for Rare Earths Innovation (CRITR) site; no revenue and no separately valued cash flows in the DFS.
Joint Venture · Active- Counterparties
- Ionic Rare Earths Limited
- Applies to
- Company-wide · Rare Earths
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Interest: 50 pct
How it affects our valuation
No valuation treatment is available for this arrangement.
R$77.5m debt facility for the Brazilian subsidiary's research, development and innovation spend at the CPTR; not drawn at the cutoff, so it is outside the unlevered project NPV and the equity bridge.
Other · Conditional- Counterparties
- Banco Nacional de Desenvolvimento Economico e Social (BNDES)
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Burden
- Period
- From 2026-09-09; no end date stated
- Key terms
- Approved amount: 77.5 BRL m
Tenor: 16 years
Interest: TR + 2.70% text
How it affects our valuation
No valuation treatment is available for this arrangement.
Preferred EPCM partner with a pre-FID bridging phase; the full EPCM cost is inside the DFS capital estimate, only the pre-FID budget is outside it and is deducted in the equity bridge.
Other · Conditional- Counterparties
- Sedgman Pty Limited · Blossom Consultoria e Assessoria S.A.
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Burden
- Period
- From 2026-09-10; no end date stated
- Key terms
- Pre-FID bridging budget: 3 USD m
How it affects our valuation
No valuation treatment is available for this arrangement.
Vendor performance rights issued for the acquisition of the Colossus-area tenements; they convert to shares on milestones and are counted in the fully diluted share basis rather than valued separately.
Other · Active- Counterparties
- Vendors of Poços de Caldas tenements
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Burden
- Period
- 2023-11-10 to 2029-07-16
- Key terms
- Vendor performance rights outstanding: 2,500,000 rights
How it affects our valuation
No valuation treatment is available for this arrangement.
Binding contract for the grid connection and power reservation; its capital is part of the DFS infrastructure estimate, so it is not a separate valuation item.
Other · Active- Counterparties
- DME (municipal electricity distributor)
- Applies to
- Colossus Rare Earths Project (Pocos de Caldas, Brazil) · Rare Earths
- Economic direction
- Burden
- Period
- From 2026-06-30; no end date stated
- Key terms
- Scope: 3.2 km 138 kV line; 27 MW Stage 1 reservation; up to 90 MVA text
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
Dated issuer reports add more complete current and prior role chronology for Agha Pervez, Rafael Moreno and Carly Terzanidis, including a disclosed related-party consultancy arrangement and a resolved CEO-versus-director date distinction. Shane Rho remains poorly documented. Independent credential checks and project-level outcome/adverse-record attribution remain limited.
Decision-relevant facts
Material summary
Agha Shahzad Pervez
Executive Chairman
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 4
- Exact tenure dates and outcome evidence for Resonance Health, Battery Age Minerals and Equinox Resources roles remain incomplete; predecessor-company restructurings and financial outcomes were not independently researched.
- Viridis FY2024 discloses related-party consultancy fees, but this review did not verify contract scope, competitive process, approval minutes or arm’s-length terms.
- Credential records and complete current concurrent directorship list were not checked against professional or corporate registries.
- Focused public-web adverse searches did not produce a substantiated personal enforcement result; no exhaustive regulator, court, sanctions, safety or environment screening was undertaken.
Rafael Moreno
Managing Director
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 4
- Prior-project names, job titles, dates, budget authority, commissioning/operating outcomes and personal responsibility at Argosy, Santos and INPEX need independent dated corroboration.
- Chartered Professional Engineer status and degrees were not independently verified.
- Viridis’s Colossus project outcomes are currently development milestones; the reviewed sources do not establish completed commercial operation under Moreno’s leadership.
- Focused adverse searches produced no substantiated person-specific proceeding, but project and employer safety/environment enforcement histories were not fully reconciled.
Carly Terzanidis
Company Secretary
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 4
- Business News profile is undated; its biography and education are not dated primary evidence and were not verified directly.
- Exact appointment, joint-to-sole secretary dates and current concurrent company list were not reconciled against every ASX notice.
- No attributable governance success or failure was established.
- No person-specific adverse proceeding surfaced in focused search; no exhaustive ASIC, court, sanctions or credential-screening database was searched.
Shane Rho
General Manager Projects and Engineering
No supported material findings selected. See this executive’s report and evidence gaps.
Evidence gaps · 4
- No dated issuer biography or primary appointment record for Shane Rho was located in this focused pass; start date and prior employer chronology are unknown.
- Education, credentials, project outcomes, specific responsibilities, safety and environmental record remain unverified.
- LinkedIn self-reported profile could not supply an auditable dated chronology.
- No person-specific adverse proceeding surfaced in focused web searches; this is not a clearance or comprehensive legal, safety or environmental review.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-09-28
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | — | 2,026 | |
| 2 | — | 17 | |
| 3 | — | 5 | |
| 4 | — | 3 | |
| 5 | — | 3 | |
| 6 | — | 3 | |
| 7 | — | 2 | |
| 8 | — | 2 | |
| 9 | — | 2 | |
| 10 | — | 2 | |
| 11 | — | 2 | |
| 12 | — | 2 | |
| 13 | — | 1 | |
| 14 | — | 1 | |
| 15 | — | 1 | |
| 16 | — | 1 | |
| 17 | — | 1 | |
| 18 | — | 1 | |
| 19 | — | 1 | |
| 20 | — | 1 |
Sources & review notesEvidence checked through 2026-10-09
Coverage and limitations
- The register is a dated list of registered accounts, not a complete beneficial-ownership register. Nominee and custody accounts may represent multiple underlying investors.
- Substantial-holder notices after the cited annual-report snapshot were not individually reconciled for this candidate; holdings may have changed by the review cutoff.
Sources
- Annual Report to Shareholders - 30 June 2026
ASX / Viridis Mining and Minerals Limited · Published 2026-09-28 · Accessed 2026-10-09
Dated registered ordinary-shareholder top-20 table and quantities/percentages.
2026/2026-09-28_Annual Report to Shareholders - 30 June 2026_9e558a5016eb6d12.pdf, PDF page 77; shareholder register section
Disclosed activity
Insider transactions
Trading activity1 buy · 0 sells shownNet cash last 12 months A$17.8kShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-07-10 | Marcus Leonardo Silberman
Details & evidence for Marcus Leonardo Silberman on 2026-07-10As disclosed: Issue of 100,000 Performance Rights.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice - GB, MS ↗ | GrantPerformance Rights expiring 2028-12-16 | 100,000 | —Non Cash | — | — |
| 2026-07-10 | Geoffrey Ralph Bedford
Details & evidence for Geoffrey Ralph Bedford on 2026-07-10As disclosed: Issue of 150,000 Performance Rights.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice - GB, MS ↗ | GrantPerformance Rights expiring 2028-12-16 | 150,000 | —Non Cash | — | — |
| 2026-07-02 | Rafael Moreno
Details & evidence for Rafael Moreno on 2026-07-02As disclosed: Exercise of 200,000 Performance Rights; 200,000 ordinary shares issued to R Moreno Family A/C.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice - ASP, CG, RM ↗ | ExerciseFully Paid Ordinary Shares / Performance Rights expiring 2028-12-16 | 200,000 | —Non Cash | — | — |
| 2026-07-02 | Jose Carlos Guedes Rosado
Details & evidence for Jose Carlos Guedes Rosado on 2026-07-02As disclosed: Exercise of 50,000 Performance Rights for ordinary shares.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice - ASP, CG, RM ↗ | ExerciseFully Paid Ordinary Shares / Performance Rights expiring 2028-12-16 | 50,000 | —Non Cash | — | — |
| 2026-07-02 | Agha Shahzad Pervez
Details & evidence for Agha Shahzad Pervez on 2026-07-02As disclosed: Exercise of 200,000 Performance Rights; 200,000 shares issued to Agha Family Investment Pty Ltd ATF Agha Family A/C.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice - ASP, CG, RM ↗ | ExerciseFully Paid Ordinary Shares / Performance Rights expiring 2028-12-16 | 200,000 | —Non Cash | — | — |
| 2026-06-11 | Marcus Leonardo Silberman
Details & evidence for Marcus Leonardo Silberman on 2026-06-11As disclosed: On-market purchase of 5,000 Fully Paid Ordinary Shares for AU$17,786.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice ↗ | PurchaseFully Paid Ordinary Shares | 5,000 | AUD 17,786.00 | AUD 3.5572Calculated average | — |
| 2026-05-22 | Rafael Moreno
Details & evidence for Rafael Moreno on 2026-05-22As disclosed: Exercise of 200,000 Performance Rights for 200,000 ordinary shares.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice ↗ | ExerciseFully Paid Ordinary Shares / Performance Rights expiring 2028-12-16 | 200,000 | —Non Cash | — | — |
| 2026-05-07 | Jose Carlos Guedes Rosado
Details & evidence for Jose Carlos Guedes Rosado on 2026-05-07As disclosed: Exercise of 200,000 options at A$2.00; 200,000 fully paid ordinary shares acquired.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice ↗ | ExerciseFully Paid Ordinary Shares / unquoted options exercisable at A$2.00 expiring 2026-05-10 | 200,000 | AUD 400,000.00 | — | 200,000 |
| 2026-04-10 | Timothy Joseph Harrison
Details & evidence for Timothy Joseph Harrison on 2026-04-10As disclosed: Exercise of 200,000 options at A$0.40; 200,000 fully paid ordinary shares acquired.
director of Viridis Mining and Minerals Limited · Start not disclosed Change of Director's Interest Notice ↗ | ExerciseFully Paid Ordinary Shares / unquoted options exercisable at A$0.40 expiring 2026-12-22 | 200,000 | AUD 80,000.00 | — | — |
The closest covered peers
Peer comparison
Peer comparison pending
No peer comparison has been saved for this company.
An on-demand analysis selects up to five closest peers and checks what their differences mean for independent fair value.
Narrative and provenance
Research & Sources
AI Analyst Report
The full analyst report, its figures and the broker-style PDF are available to subscribers and invited guests.
Sign in or enter a guest codeChronological evidenceSource-document inventory28 documents
Reference price: VMM close on 2 Nov 2026 (market data provider via miners.collect_stock_prices)Market Data · LowExtracted
Latest eligible ASX close on or before the cutoff: A$3.56 on 2 Nov 2026, volume 580,057, fresh (0 days). Selected by miners.reference_price; the local database close equals this value.
- Document ID
- vmm-market-reference-2026-11-02
- Published UTC
- 2026-11-02T04:59:00Z
- Projects
- colossus
- Commodities
- rare_earths
Market snapshot: price performance, liquidity, commodity FX (miners.v8db.market_snapshot)Market Data · LowExtracted
Market snapshot at 2 Nov 2026: 12-month return +158% against the mining index +152% relative, 20-day average traded value A$3.2m, market capitalisation A$573.5m on 161.1m shares, AUD/USD 1.4236. No NdPr spot in the local database. Peer rows empty for this basis.
- Document ID
- vmm-market-snapshot-2026-11-02
- Published UTC
- 2026-11-02T04:59:00Z
- Projects
- colossus
- Commodities
- rare_earths
Peer rows from the stock database (data/miners_v8.db, stock_daily at cutoff)Market Data · LowExtracted
Published v8 runs for rare earth peers (LYC, ARU, BRE, ILU, BCM, ARR, CRI) with market capitalisation, enterprise value, P/NAV and 12-month return at the latest close on or before 2 Nov 2026. Used for the peer comparison; each peer is a stock already run in this database.
- Document ID
- vmm-peer-database-2026-11-02
- Published UTC
- 2026-11-02T04:59:00Z
- Projects
- colossus
- Commodities
- rare_earths
Management assessment summary and executive profiles (local research product)Governance · LowExtracted
Local management assessment for VMM: executive team scored 49/100 with low evidence confidence; executives Pervez, Moreno, Terzanidis and Rho profiled from issuer reports. Used as an input only; claims checked against the annual report.
- Document ID
- vmm-management-summary
- Published UTC
- 2026-11-02T00:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
Top-20 register and substantial holders (local research product, from AR 30 Jun 2026)Other · LowExtracted
Registered top-20 ordinary-share accounts at 28 Sep 2026 from the annual report shareholder information (nominee accounts 72.9% of the register). Substantial holder notices after that snapshot not individually reconciled.
- Document ID
- vmm-ownership-register-2026-09-28
- Published UTC
- 2026-11-02T00:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
Insider dealings for directors (miners.insider_transactions show VMM)Governance · LowExtracted
Director dealings register extract: performance-right grants (10 Jul 2026 and earlier), changes of director interest notices in 2026. Status partial; used qualitatively for alignment and dilution.
- Document ID
- vmm-insider-dealings
- Published UTC
- 2026-11-02T00:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
Quarterly Activities and Appendix 5B, quarter to 30 September 2026Results · HighExtracted
September 2026 quarter: A$119.7m cash at quarter end, A$11.4m quarterly operating and investing outflow, A$117m placement completed in Aug 2026 (30.9m shares at A$3.79), pro forma cash about A$200m after OneIM tranche 2 and the remaining ORE/Regia investment, EPCM bridging up to US$3m, debt process with Goldman Sachs and Cutfield Freeman, BNDES R$77.5m facility, Solvay offtake documentation progressing.
- Document ID
- vmm-5b-2026-09
- Published UTC
- 2026-10-26T22:30:26Z
- Projects
- colossus
- Commodities
- rare_earths
Notice of Annual General Meeting, 4 Nov 2026 (5 Oct 2026)Governance · MediumExtracted
Notice of the 2026 AGM on Wednesday 4 November 2026 at 10:00am (WST), Boorloo Room, Perth. The 27 Oct 2026 quarterly report says the OneIM second tranche remains subject to shareholder approval, FIRB approval and other conditions; the notice is the meeting record for that approval.
- Document ID
- vmm-agm-notice-2026-10
- Published UTC
- 2026-10-05T05:10:26Z
- Projects
- colossus
- Commodities
- rare_earths
Annual Report to Shareholders, year ended 30 June 2026Results · HighExtracted
FY26 audited annual report (year to 30 June 2026). Audited P&L, balance sheet and cash flows for FY26 and FY25 comparatives; share capital (note 18), dividends (note 21), subsequent events (note 31), share-based payments (note 34, performance rights outstanding), review of operations (Colossus DFS/PFS status, permitting, demonstration plant, EPCM, offtake LoI, ORE/Regia funding, debt process), directors and senior executives, top-20 register.
- Document ID
- vmm-ar-2026
- Published UTC
- 2026-09-28T07:39:21Z
- Projects
- colossus
- Commodities
- rare_earths
Sedgman / Blossom selected as EPCM partner (10 Sep 2026)Transaction · MediumExtracted
Selection of Sedgman Pty Ltd and Blossom Consultoria as preferred EPCM partner; pre-FID bridging phase with up to US$3.0m approved; full EPCM appointment subject to contract terms and FID.
- Document ID
- vmm-epcm-2026-09
- Published UTC
- 2026-09-10T01:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
BNDES R$77.5m financing facility approval (9 Sep 2026)Financing · MediumExtracted
BNDES approval of R$77.5m (about US$15m) facility for Viridis Mineracao Ltda: 16-year tenor, four-year grace, TR + 2.70%, for CPTR and demonstration plant R&D. Documentation in progress at the report date.
- Document ID
- vmm-bndes-2026-09
- Published UTC
- 2026-09-09T01:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
First major equipment order: residue pressure filtration (7 Sep 2026)Operations · MediumExtracted
Purchase order to Dewater Filter Press for the residue pressure filtration package, about 12 months manufacturing, staged payments and a pre-notice-to-proceed hold point to limit pre-FID exposure.
- Document ID
- vmm-equip-2026-09
- Published UTC
- 2026-09-07T01:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
Colossus DFS confirms project bankability and execution readiness (ASX release, 20 Aug 2026)Study · HighExtracted
Definitive Feasibility Study release for the Colossus Rare Earths Project (Pocos de Caldas, Brazil). 5 Mtpa dry, 25-year Production Target, Ore Reserve 200.1 Mt at 2,894 ppm TREO and 715 ppm MREO. Spot-case after-tax NPV8 US$1,196m, IRR 36.4%, payback 2.7 years; Western floor case US$1,190m. Initial capex US$405m excluding and US$449m including contingency. Annual C1 US$81m, AISC US$113m (US$26.7/kg NdPr). Tables and summary cash flows, price and FX assumptions, reserve and resource statements.
- Document ID
- vmm-dfs-2026-08
- Published UTC
- 2026-08-20T01:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
Up to US$120m strategic equity funding (20 Aug 2026)Financing · HighExtracted
Commitments of up to about US$120m (A$170m) before costs: OneIM up to US$75m across two tranches, ORE and Regia US$5m accelerated tranche, about US$40m from strategic and institutional investors. First tranche of about A$61.3m at A$3.79 per share.
- Document ID
- vmm-fund-2026-08
- Published UTC
- 2026-08-19T23:50:37Z
- Projects
- colossus
- Commodities
- rare_earths
Demonstration plant exceeds PFS recovery assumptions (7 Aug 2026)Operations · HighExtracted
Demonstration plant continuous operation: average MREO recovery 78.7% over the stabilised period against the PFS assumption of 76%; TREO recovery averaged 64%. MREC samples produced for Solvay qualification.
- Document ID
- vmm-demo-2026-08
- Published UTC
- 2026-08-07T01:27:01Z
- Projects
- colossus
- Commodities
- rare_earths
Quarterly Activities and Appendix 5B, quarter to 30 June 2026Results · MediumExtracted
June 2026 quarter Appendix 5B: cash of A$20.5m at quarter end; pro forma available funding of about A$56m including US$25m remaining under the binding ORE/Regia agreement.
- Document ID
- vmm-5b-2026-06
- Published UTC
- 2026-07-23T23:26:40Z
- Projects
- colossus
- Commodities
- rare_earths
Financing milestone via major Measured resource upgrade (9 Jul 2026)Resource Update · HighExtracted
Updated Colossus Mineral Resource of 473 Mt at 2,505 ppm TREO and 592 ppm MREO at a 1,000 ppm TREO cut-off, including 31 Mt Measured and 274 Mt Indicated. Used with the AR review of operations resource table.
- Document ID
- vmm-res-2026-07
- Published UTC
- 2026-07-08T22:51:18Z
- Projects
- colossus
- Commodities
- rare_earths
Non-binding offtake and technical partnership LoI with Solvay (2 Jun 2026)Economic Arrangement · HighExtracted
Non-binding Letter of Intent with Solvay S.A. for supply of MREC from Colossus, with offtake and technical package; terms to be definitive. Commercial terms largely agreed by August 2026 per the Sept quarterly report; binding documentation not executed at cutoff.
- Document ID
- vmm-solvay-loi-2026-06
- Published UTC
- 2026-06-02T01:00:00Z
- Projects
- colossus
- Commodities
- rare_earths
Quarterly Activities and Appendix 5B, quarter to 31 March 2026Results · MediumExtracted
March 2026 quarter Appendix 5B: cash of A$29.8m at quarter end after the A$25m placement in March 2026; demonstration plant and DFS spending.
- Document ID
- vmm-5b-2026-03
- Published UTC
- 2026-04-29T22:50:40Z
- Projects
- colossus
- Commodities
- rare_earths
Appointment of Geoff Bedford as independent non-executive director (28 Apr 2026)Leadership · MediumExtracted
Geoff Bedford appointed independent non-executive director effective 1 May 2026, replacing Tim Harrison; former CEO of Neo Performance Materials and Molycorp.
- Document ID
- vmm-board-bedford-2026-04
- Published UTC
- 2026-04-27T22:55:42Z
- Projects
- colossus
- Commodities
- rare_earths
A$25m institutional placement (18 Mar 2026)Financing · HighExtracted
Placement of A$25m at A$1.90 per share (13.16m shares), completed March 2026, proceeds for demonstration plant, DFS, permitting, resource and EPCM activities.
- Document ID
- vmm-placement-2026-03
- Published UTC
- 2026-03-17T22:31:32Z
- Projects
- colossus
- Commodities
- rare_earths
Quarterly Activities and Appendix 5B, quarter to 31 December 2025Results · MediumExtracted
December 2025 quarter Appendix 5B: cash of A$15.2m at quarter end (prior quarter A$10.1m).
- Document ID
- vmm-5b-2025-12
- Published UTC
- 2026-01-27T22:38:18Z
- Projects
- colossus
- Commodities
- rare_earths
Binding US$30m strategic investment with ORE and Regia (24 Nov 2025)Economic Arrangement · HighExtracted
Definitive agreement with ORE Investments Ltda and Regia Capital Ltda for a US$30m (A$46m) staged investment in four tranches via non-brokered placements; tranche 1 of US$5m received.
- Document ID
- vmm-ore-regia-2025-11
- Published UTC
- 2025-11-23T21:50:49Z
- Projects
- colossus
- Commodities
- rare_earths
Retraction of 40-year life statements (27 Aug 2025)Governance · MediumExtracted
ASX announcement retracting statements in the 20 Aug 2025 maiden Ore Reserve release about a 40-year life of mine, stating there was no current reasonable basis for them and that the mine schedule was unchanged from the PFS. Read for management-credibility context; page 1 is an image page and no number is taken from it.
- Document ID
- vmm-ore-retract-2025-08
- Published UTC
- 2025-08-27T08:27:53Z
- Projects
- colossus
- Commodities
- rare_earths
Colossus 200.6 Mt maiden Ore Reserve (20 Aug 2025)Reserve Update · HighExtracted
Maiden Ore Reserve of 200.6 Mt at 2,640 ppm TREO and 740 ppm MREO, all Probable, prepared under the PFS. Superseded by the August 2026 DFS Ore Reserve of 200.1 Mt. Context for the 40-year life statement retracted on 27 Aug 2025.
- Document ID
- vmm-ore-2025-08
- Published UTC
- 2025-08-19T22:45:57Z
- Projects
- colossus
- Commodities
- rare_earths
Strategic partnership to fund FID pathway (28 Jul 2025)Economic Arrangement · MediumExtracted
Announcement of a strategic partnership framework to fund the pathway to FID for Colossus, followed by the binding ORE and Regia investment of Nov 2025.
- Document ID
- vmm-strategic-2025-07
- Published UTC
- 2025-07-27T22:41:48Z
- Projects
- colossus
- Commodities
- rare_earths
Appointment of Rafael Moreno as Managing Director (14 Jul 2025)Leadership · MediumExtracted
Announcement of the Managing Director appointment of Rafael Moreno (CEO since 2023).
- Document ID
- vmm-md-2025-07
- Published UTC
- 2025-07-13T23:35:37Z
- Projects
- colossus
- Commodities
- rare_earths
Colossus PFS (9 Jul 2025)Study · HighExtracted
Pre-feasibility study for Colossus: 20-year case; base case long-term NdPr assumption US$90/kg; superseded by the DFS of 20 Aug 2026. Figures cited through the FY26 annual report review of operations.
- Document ID
- vmm-pfs-2025-07
- Published UTC
- 2025-07-08T23:31:34Z
- Projects
- colossus
- Commodities
- rare_earths
Evidence facts71
20494420 AUD
2026-06-301149695 AUD
2025-06-300 AUD
2026-06-30210688 AUD
2026-06-30161102873 shares
2026-08-3186220335 shares
2025-06-30168334542 shares
2026-08-310 AUD
2026-06-30-6941037 AUD
2026-06-30-2663186 AUD
2025-06-30-950195 AUD
2026-06-30-1991901 AUD
2025-06-3022704464 AUD
2026-06-309332564 AUD
2025-06-30100 pct
2026-06-30rare_earths text
2026-06-30Preliminary Licence granted 19 Dec 2025; Installation Licence applied 19 May 2026 text
2026-06-3031 Mt
2026-07-09274 Mt
2026-07-09168 Mt
2026-07-092505 ppm
2026-07-092858 ppm
2026-07-092707 ppm
2026-07-092108 ppm
2026-07-09592 ppm
2026-07-09758 ppm
2026-07-09648 ppm
2026-07-09470 ppm
2026-07-0988598 t
2026-07-09741718 t
2026-07-09354144 t
2026-07-09280080 t
2026-07-0923498 t
2026-07-09177552 t
2026-07-0978960 t
2026-07-091000 ppm
2026-07-092026-07-09 date
2026-07-0973650532 AUD
2026-06-3028506983 AUD
2025-06-30119702000 AUD
2026-09-300 AUD
2026-09-300 AUD
2026-09-3080390000 AUD
2026-09-3011356000 AUD
2026-09-3031.2 pct
2026-09-3029829000 AUD
2026-03-3115158000 AUD
2025-12-31BR text
2026-08-20DFS text
2026-08-202026-08-20 date
2026-08-201196000000 USD
2026-08-2036.4 pct
2026-08-208.0 pct
2026-08-20449000000 USD
2026-08-204446 t/yr
2026-08-2025 years
2026-08-2026.7 USD/kg NdPr
2026-08-2015.3 USD/kg NdPr
2026-08-20129 USD/kg NdPr
2026-08-202028 date
2026-08-20Conventional free-dig open-pit (ionic clay), 95% mining recovery text
2026-08-20200.1 Mt
2026-08-202894 ppm
2026-08-20715 ppm
2026-08-20579000 t
2026-08-20143100 t
2026-08-2027.4 Mt
2026-08-20172.7 Mt
2026-08-20473 Mt
2026-07-091184865 t
2026-07-0978.7 pct
2026-08-07