Stock Track | Viridis Mining and Minerals Soars 5.17% Intraday on First Rare Earth Carbonate Production

Stock Track

05/26

Shares of Viridis Mining and Minerals Limited (VMM.AU) soared 5.17% during intraday trading on Tuesday, following a significant operational announcement from the company.

The surge comes after Viridis announced it successfully manufactured the first batch of high-grade mixed rare earth carbonate (MREC) at its demonstration plant in Poços de Caldas, Brazil. The plant is currently processing ionic clay feed sourced from the company's Colossus Project Northern Concessions, with the ore feed expected to support the proposed mine plan's early years.

With the demonstration plant now operational, Viridis plans to advance key initiatives, including producing MREC samples for potential offtake partners. The company's managing director highlighted that very few Western rare earth companies possess the in-house capability to continuously process ionic clay material at scale into a saleable MREC product, marking a notable technical and commercial milestone for the firm.

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