Viridis Moves Colossus Rare Earths Project Into Execution After Funding Commitments
Closing price · 2026-10-27: $3.54 · +5.04%
Viridis says its Colossus project has moved from development into execution after completing a feasibility study and securing strategic equity commitments of up to approximately US$120 million, which it says fully addresses the project’s equity funding requirement. The study estimates an after-tax value of about US$1.2 billion and a 2.7-year payback; the company has selected an engineering partner, awarded its first major equipment package and advanced offtake and debt-financing discussions. Quarter-end cash was about A$120 million, with pro forma cash of approximately A$200 million subject to investment conditions and completion.