SYDNEY — Shares of Sunrise Energy Metals Ltd. fell more than 8% on Friday, extending a volatile slide for the scandium developer just days after it approved construction of its flagship Syerston project in New South Wales.

Sunrise shares fell A$1.04, or 8.24%, to close at A$11.58, after trading between A$11.15 and A$12.76. About 712,000 shares changed hands, leaving the company valued at about A$2 billion.

The decline came amid a broad market pullback. The ASX 200 closed 0.5% lower as an AI-driven selloff swept through Asian markets.

Construction approved

The drop follows a major milestone. Sunrise announced approval of the Syerston Scandium........

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