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Viridis Mining and Minerals Limited (ASX:VMM)

ALERT: Price-sensitive ASX Announcement for VMM
Current share price for VMM : $3.580 2.485 (226.94%)+
Announcement
Release
31 Jul 2025 2:51PM
Price at Release
$1.095
Full Release
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Summary
Viridis Mining and Minerals Limited (VMM) has released its quarterly activities report and Appendix 5B Cash Flow Report for the quarter ended 30 June 2023. Throughout the quarter, VMM focused on advancing its exploration activities, particularly at the Colossus Project in Brazil, which is prospective for rare earth elements (REEs). Key milestones included the commencement of the maiden exploration program at Colossus, results from auger drilling as well as positive metallurgical testing indicating high recoveries of REEs. The company also progressed with permitting and environmental approvals for further drilling campaigns. VMM strengthened its management team, continued to review acquisition opportunities, and maintained a strong cash position at quarter end, enabling ongoing exploration activities.
Key Points
  • The company commenced its maiden exploration program at the Colossus Project in Brazil, focusing on rare earth elements (REEs).
  • Initial auger drilling results at Colossus showed high-grade REE mineralization near surface.
  • Positive metallurgical test work demonstrated high recoveries of rare earths.
  • Progress was made in permitting and environmental approvals for further drilling.
  • VMM strengthened its management and technical teams during the quarter.
  • The company continued to assess and review acquisition opportunities to grow its project portfolio.
  • VMM ended the quarter with a strong cash position, supporting ongoing and future exploration activities.
  • The Appendix 5B Cash Flow Report details cash inflows and outflows for the quarter, indicating prudent financial management.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.