Core Insights - Viridis Mining and Minerals has received a non-binding, conditional letter of support from Export Finance Australia for the Colossus Rare Earths project in Brazil [1][2] - The letter of support indicates EFA's potential interest in providing a direct lending facility of up to A$77 million, aiding in the project's execution phase and moving towards full project financing [2] - The project has also secured support from other financial institutions, enhancing its overall debt capacity and allowing for the appointment of a lead arranger [3] Financial Framework - The Colossus project has estimated capital costs of $286 million, or $356 million including a 25% contingency [3] - With EFA's letter of support, the targeted project debt package is now fully covered, facilitating the path towards securing complete project financing and achieving a final investment decision anticipated in the second half of 2026 [4] Environmental and Strategic Developments - The project has received its preliminary environmental license, confirming its environmental feasibility [4] - Viridis has finalized a strategic investment agreement worth $30 million with ORE Investments and Régia Capital, allowing for advanced negotiations with key equity investors and offtake counterparties [5] Management Commentary - The managing director of Viridis stated that securing the letter of support from EFA represents a significant milestone in the company's debt financing strategy, enhancing lender confidence and access to competitive project finance [6]