Sunrise Energy Metals

The US Department of Defense has granted Sunrise Energy Metals a conditional $400 million credit facility to finance the planned scandium mine at the Syerston project in New South Wales. Lockheed Martin secured an option on around a quarter of the initial production to help establish a western supply chain for the strategic metal. The move is part of a roughly $3 billion US initiative to secure critical mineral supply chains; Sunrise’s share price rose sharply as a result. » More on finanzen.net

The US government, through the Office of Strategic Capital, is providing Sunrise Energy Metals with long-term financing of $400 million to support construction of the world’s first primary scandium mine at the Syerston project in New South Wales and a full scandium value chain. The aim is to reduce US dependence on foreign suppliers of critical raw materials, particularly China. Scandium is considered strategically important for aerospace, defense and high-tech applications; Sunrise sees the project as a rapid contribution to supply security. The announcement triggered a strong jump in Sunrise’s share price, but the company remains far from production. » More on deraktionaer.de

Subsidiary Sunrise (Guizhou) New Energy Materials has been awarded $345,000 by the Guizhou provincial science and technology authority to fund a pilot development project for solid-state battery anode materials. The funds are intended to accelerate technical validation, process optimization and scaling of the developed anode materials. The micro-cap company, despite a rise in its share price, reported negative EBITDA and high cash burn over the past twelve months. » More on de.investing.com