Live News • Aug 10
US Department of War Awards $400 Million Loan to Sunrise Energy Metals for Scandium Project Sunrise Energy Metals has secured a conditional US$400 million loan from the US Department of War’s Office of Strategic Capital to support scandium development at its Syerston project in New South Wales, with the US receiving a right of first offer over the company’s scandium output.
The funding sits within a wider US$3b critical minerals and battery initiative and is tied to Sunrise Energy Metals’ plan to build a full scandium value chain from mining through to metallization and additive layer manufacturing, aimed at supplying Western-aligned customers and US defense needs.
Sunrise Energy Metals shares last traded at A$15.93, with the stock up 102.9% year to date.
This loan signals that Sunrise Energy Metals has attracted direct backing from a major government stakeholder in critical minerals, while the right of first offer ties future scandium sales closely to US defense priorities and may concentrate offtake and geopolitical risk. Announcement • Jul 22
Sunrise Energy Metals Limited Announces CFO Changes Sunrise Energy Metals Limited had appointed Mr. John Mullumby as Chief Financial Officer, effective August 24, 2026. Mr. Mullumby replaced Trevor Eton who had served as CFO since September 2024. Mr. Mullumby is a highly experienced finance and commercial executive with more than 25 years’ experience across the resources sector, professional services and corporate advisory. He most recently served as CFO of Gold Road Resources Limited until the completion of its acquisition by Gold Fields Limited. Prior to joining Gold Road Resources, Mr. Mullumby spent more than seven years with Newcrest Mining Limited in a range of senior commercial and operational leadership roles, both in its Melbourne Head Office and at the long life Lihir Gold Mine in Papua New Guinea. Prior to Newcrest, he worked for international industrial and critical minerals producer, Nyrstar, in the United States and Switzerland, where he held senior development and finance roles. Earlier in his career, Mr. Mullumby spent more than 10 years with Deloitte in Australia and the United Kingdom, where he worked across corporate finance, transaction services, post-merger integration, bid defence, initial public offerings, due diligence, restructuring and strategic cost-reduction programs. Mr. Mullumby is a qualified Australian Chartered Accountant and holds a Bachelor of Commerce in Accounting and Finance from the University of Melbourne. Recent Insider Transactions Derivative • Jul 18
MD, CEO & Executive Director exercised options to buy AU$852k worth of stock. On the 15th of July, Sam Riggall exercised options to buy 59k shares at a strike price of around AU$4.25, costing a total of AU$250k. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. Sam currently holds 2.61m shares (0.016795867227225102 of the company). Company insiders have collectively bought AU$8.2m more than they sold, via options and on-market transactions, in the last 12 months. 
