Viridis Mining & Minerals - Pre Production Sweet Spot - Western Rare Earths supplier (ASX: VMM)

They just released their Definitive Feasibility Study (DFS) for their Ionic Clay Rare Earth Colossus project in Brazil (one of the safest mining jurisdictions out there):

* **1.866 M USD** Pre-Tax NPV
* lowest all in sustaining cost globally
* just raised up to 120 M USD for the 30% equity part of the mine construction capex = **no dilution for shareholders**

As as a reference, just on 20. April this year, the only producing rare earth mine in Brazil Serra Verde was taken over by (Nasdaq: USAR) for **2.800 M USD**. Viridis Colossus project has superior grades and geology (only 12% of landholdings currently included in the resource), so will **command a higher premium in case of a takeover**.

current valuation (as of 21.08.2026) = 406 M USD

potential valuation = above 2.800 M USD, see Serra Verde takeover

**upside potential = 6-7x ++**

Upcoming Catalysts:

* binding offtake agreements with Solvay
* finalizing of 70% debt capex component with Australian / Canadian / French banks
* FID Q4 2026

Not financial advice, DOYDD :-)

Update 1 24.08.2026: Department of War Announces a $750 Million Investment as Part of a $1.55 Billion Initiative to Secure Critical Rare-Earth Elements From Serre Verde Aug. 24, 2026 | By [War.gov](http://War.gov)