Sunrise Energy Metals (SRL) Q3 2026 TU earnings summary

Executive summary

• Completed Syerston Scandium Project Feasibility Study, confirming strong economics for a scalable, long-life, high-grade, low-cost operation.

• Early works underway, including resource drilling, engineering design, and procurement, targeting construction from mid-2026 and commercial production from mid-2028.

• Secured a Letter of Interest from the U.S. Export-Import Bank for up to US$67 million in project financing.

• Included in the S&P/ASX All Ordinaries Index, increasing market exposure.

Financial highlights

• Cash on hand at 31 March 2026 was $117 million, boosted by ~$71 million from capital raisings and option exercises during the quarter.

• Net cash used in operating activities for the quarter was $2.1 million.

• Estimated quarters of funding available is 54.7, indicating strong liquidity.

Outlook and guidance

• Construction expected to commence in 2H 2026, with commissioning in 1H 2028 and commercial production in 2H 2028, pending a positive Final Investment Decision in mid-2026.

• Ongoing evaluation of an expansion case to double production capacity to 180 tpa, contingent on demand growth and financing.