External broker reports(aggregated public sources), Ord Minnett

Ord Minnett

Ord Minnett is a leading Australian wealth management group, incorporating full-service stockbroking, financial planning and funds management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

Viridis Mining and Minerals Lt / Equity Bottom-Up

<ul><li>VMM has released its Scoping Study for the Colossus project.</li><li>Overall, the result was positive but certainly not surprising given analogue, Meteoric Resource’s (ASX: MEI), Caldeira Scoping Study was released last year.</li><li>Most importantly, Colossus demonstrated it was economic even at today’s low prices of US$60/kg NdPr delivering an NPV8% of US$388mn. We retain our 12-month Target Price of A$1.00/sh and Spec. Buy Recommendation as VMM looks undervalued.</li><li>However, we maintain that funding Colossus into a reality looks very challenging given VMM’s small market cap. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

VMM has released its Scoping Study for the Colossus project.Overall, the result was positive but certainly not surprising given analogue, Meteoric Resource’s (ASX: MEI), Caldeira Scoping Study was released last year.Most importantly, Colossus demonstrated it was economic even at today’s low prices of US$60/kg NdPr delivering an NPV8% of US$388mn. We retain our 12-month Target Price of A$1.00/sh and Spec. Buy Recommendation as VMM looks undervalued.However, we maintain that funding Colossus into a reality looks very challenging given VMM’s small market cap. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Viridis Mining and Minerals Ltd - Colossus Scoping Study Release