Viridis Mining and Minerals Limited has announced a significant leadership change with the appointment of Rafael Moreno as Managing Director, effective 14 July 2025. Previously serving as the Chief Executive Officer since January 2024, Mr Moreno has been credited with advancing the Company’s flagship Colossus Rare Earth Project from an early exploration phase to a clear pre-feasibility stage, marked by disciplined drilling, comprehensive metallurgy work, and early environmental, social, and governance initiatives. This development underlines the Company’s commitment to transitioning toward execution and production while strengthening its experienced project delivery team. The appointment coincides with the immediate retirement of Mr Christopher Gerteisen from his role as Non-Executive Director. The Colossus Project, now the first rare earth project in South America to deliver a Pre-Feasibility Study, has been de-risked and is seen as economically robust enough to be bankable even at current cyclical low prices. Viridis is now preparing to shift its focus to further technical evaluations through a targeted metallurgical test program, while moving towards a Definitive Feasibility Study and finalizing environmental approvals. The Company is also actively pursuing a multi-pronged financing strategy, engaging with strategic investors, government entities, and development banks across multiple regions. Early-stage discussions have been positive, with potential off-take agreements gaining traction due to the project’s compelling economics and low-impurity rare earth carbonate product. The news carries both bullish and bearish sentiments. On the bullish side, the leadership appointment of Mr Moreno—a professional with extensive global experience in major capital projects—reinforces confidence in the Company’s strategic direction. The completed Pre-Feasibility Study and the proactive steps in permitting and financing are seen as catalysts for future growth, potentially attracting significant investor interest and strategic partnerships. Conversely, the bearish perspective cautions that the project still faces regulatory uncertainties and the inherent risks associated with transitioning from development to production. Delays in environmental approvals or challenges in securing project financing could temper short-term progress, suggesting careful navigation of these challenges is crucial for long-term value creation.