www.gunson.com.au
Gunson Resources is focused on exploration for and development of mineral deposits in Australia. Since its public listing in 2000, Gunson has discovered then completed a Definitive Feasibility Study, in January 2010, on its Coburn Zircon Project in Western Australia and completed a Pre Feasibility Study, in October 2009, on its Mount Gunson Copper Project in South Australia.
A 15 month Bankable Feasibility Study on the Mount Gunson commenced at the end of 2009, with strong interest being shown by several commodity trading houses in funding this Study and the subsequent mine development.
Gunson Resources substantial shareholders top up respective shareholdings
Gunson Resources (ASX: GUN) substantial shareholder Grey Willow has increased its stake in the company to 9.166% after purchasing an additional 2,465,599 shares.
Grey Willow acquired the shares for a consideration of A$424,264, providing an average entry price of $0.17 per share.
Meanwhile, substantial shareholder John Tilbrook, a director of Grey Willow, has also increased his shareholding in Gunson to 6.77%.
Tilbrook purchased 180,979 additional shares for a consideration of $25,975.
Interestingly, Gunson Resources’ Coburn zircon project in Western Australia has caught the eye of the international investors, with the company executing a non-binding term sheet with an as yet undisclosed major East Asian industrial group.
The group is no doubt interested in the project due to revised project returns, with financial modelling using updated TZMI price forecasts revealing a NPV (8%) of $223.7 million and an IRR of 28.3% on a pre-tax and pre-financing basis, at the current 5% State royalty rate.
