Sunrise Energy Metals Starts Preparation of Early Works, Pre-Construction Activities at New South Wales Scandium Project; Shares Jump 6%

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Sunrise Energy Metals (ASX:SRL) said the preparation of early works and pre-construction activities at the Syerston scandium project in New South Wales started, according to a Thursday Australian bourse filing.

The company retained GR Engineering Services (ASX:GNG) to complete a front-end engineering design (FEED) study on the beneficiation and leaching circuit and awarded Clean Teq Water (ASX:CNQ) an engineering contract for the ion exchange circuit and refinery, the filing said.

Work is expected to be completed in mid-2026, per the filing. Work on the updated Syerston feasibility study report is expected to be completed early this year.

In the same filing, the company said that activities at the Sunrise Battery Materials Complex, also in New South Wales, remain focused on minimizing holdings costs and preserving project optionality until market conditions improve.

Sunrise's shares rose past 6% in recent trading on Thursday, while Clean TeQ Water's shares tumbled 7%.

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