Sunrise $SRL rises 16% on $400M U.S. loan commitment for Syerston

Sunrise Energy Metals $SRL climbed as much as 29% on August 10 before closing more than 16% higher. The move followed a conditional commitment from the U.S. Office of Strategic Capital, or OSC, for up to $400M of long-term debt financing for the Syerston scandium project in New South Wales. Sunrise's August 10 ASX filing sets a proposed 25-year maturity.

The prospective facility is larger than the project's revised capital estimate presented to OSC. Sunrise puts the cost at A$450M-A$475M, or $315M-$333M using its A$1 to US$0.70 assumption. That scope includes the Australian mine and refinery, U.S. scandium-metal refining capacity, and additional water and power infrastructure. The initial development is designed to produce about 60 tonnes of high-purity scandium oxide annually over an estimated 32-year operating life. A second phase under evaluation could add 120 tonnes per year, lifting total potential capacity to 180 tonnes.

The financing is not final. The filing says the conditional commitment is non-binding and depends on financial, legal, technical and environmental due diligence, definitive documentation, regulatory approvals and project milestones. Each disbursement would also require specified equity contributions from Sunrise and binding offtake agreements. The company cautions that no definitive loan may be signed and that it may not draw any of the proposed $400M.

CNBC's market report recorded the 29% intraday gain and the more than 16% close. The reaction reflects a potential reduction in development-funding risk and the strategic value of a primary scandium supply chain outside China. Sunrise identifies aluminum-scandium alloys for defense and aerospace, solid-oxide fuel cells, semiconductors and wireless technologies as target markets.

Sunrise aims to put a final investment decision recommendation to its board in the second half of 2026 and retain a second-half 2028 first-production target. It has also begun preparing for an additional U.S. exchange listing, subject to shareholder, court and regulatory approvals. The next measurable checkpoints are the August capital-cost update, binding offtake contracts, completion of OSC due diligence and execution of definitive loan documents.

Not investment advice. Verify all figures with primary sources before acting.