SRL 7.35% 63.0¢ sunrise energy metals limited

I think the shift to refinery in the US will likely delay us...

  1. 723 Posts.
    lightbulb Created with Sketch. 593
    I think the shift to refinery in the US will likely delay us further, but ultimately might make this company.

    Agree that communications continue to be appalling and is the main reason the share price is where it is, finance of this magnitude does take a long time, particularly when govt is involved

    Shift to the US will likely require applications to various US govt department, alongside where to locate the refinery, but id argue also they are discussing metrics for offtake and shareholding of the project with potential stakeholders, the silence might actually mean we are getting to the pointy end of negotiations.

    Notably, if SRL is successful in locating the HPAL refinery in the US, it will be one of 3 Nickel / Cobalt refineries that are likely to come online in the next 5 years. Currently Westwin pilot project and Talon Metals project (although subject to approving their mine which could be a hurdle) are the only others im aware of. SRL's refinery will be the largest in the US, and from last update they are looking to increase to 40ktpa Nickel in time. I think it also opens up the refinery to taking in other laterite sources not just from Sunrise and this leads to potential for large expansion opportunities in the US as demand grows.
    As a side note, the only Nickel mine in the US is the Eagle mine that is due to shut down in 2026....

    Reading into the Quarterly update they are ticking off final long lead items, so if/when a finance package is agreed, they can pretty much start straight away....which tells me discussions are ongoing, and hopefully....close to agreement
    Last edited by mg97788: 23/04/24
 
watchlist Created with Sketch. Add SRL (ASX) to my watchlist
(20min delay)
Last
63.0¢
Change
-0.050(7.35%)
Mkt cap ! $59.09M
Open High Low Value Volume
68.5¢ 68.5¢ 62.5¢ $30.11K 44.95K

Buyers (Bids)

No. Vol. Price($)
1 5 64.5¢
 

Sellers (Offers)

Price($) Vol. No.
65.0¢ 248 2
View Market Depth
Last trade - 15.19pm 08/05/2024 (20 minute delay) ?
Last
65.0¢
  Change
-0.050 ( 0.00 %)
Open High Low Volume
64.0¢ 65.5¢ 61.0¢ 10696
Last updated 15.59pm 08/05/2024 ?
SRL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.