Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Sunrise Resources pushing hard to deliver production in the first half of next year

The market for horticultural grades of perlite is particularly strong, Sunrise said, with market growth being driven in part by the growth in the legal cannabis market in parts of the USA
Nevada
Sunrise’s portfolio of assets also includes the Junction and Bakers Gold projects

Sunrise Resources PLC (LON:SRES) has made good progress towards the development of the CS Pozzolan-Perlite project since its mid-December update.

In its half-year results statement, executive chairman, Patrick Cheetham, said Sunrise is pushing ahead with mine planning and permitting, and season sensitive environmental baseline studies have been completed or are in progress.

The developer said it is also starting to see the results of its market development work and highlighted “a significant step forward” in the recent signing of a memorandum of understanding for an off-take agreement and commercial testing with a major buyer and processor of raw perlite.

READ: Sunrise Resources shares surge as it secures MOU for development of CS project​

“We are continuing to push hard in developing the CS Project with the ambition to deliver first production by the end of the first half of 2019,” Cheetham added.

As for the half-year results, they were much as expected, with a loss before tax of £174,517 in the six months to the end of March, versus a loss of £162,860 the year before.

At present, the company has no revenue.

The group ended the reporting period with £320,636 in cash and cash equivalents, up from £287,982 the year before.

Shares in Sunrise were unchanged.

View full SRES profile View Profile

Sunrise Resources Plc Timeline

Related Articles

reverse circulation drill rig
April 19 2018
Drilling underway is targeting maiden resources at the Lydia and Crown Prince prospects.
graphite
January 18 2018
NextSource Materials Inc (TSE:NEXT) (OTCQB:NSRCF) may just be the best graphite company few investors know of.
1528483472_tinka-workers---great-pic.jpg
June 26 2018
In April this year, the group said it was fully funded for exploration at the project for the next 18 months

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use