Proactiveinvestors United Kingdom Sunrise Resources PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Sunrise Resources PLC RSS feed en Thu, 27 Jun 2019 13:59:22 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Sunrise Resources exits Block Energy after spectacular year for oiler ]]> https://www.proactiveinvestors.co.uk/companies/news/222408/sunrise-resources-exits-block-energy-after-spectacular-year-for-oiler-222408.html Sunrise Resources PLC (LON:SRES) has booked a profit of £23,000 from the sale of its small stake in Georgia-based oil group Block Energy PLC (LON:BLOE).

The mining junior sold for an average price of 10.43p per share generating gross proceeds of £48,649, money that will be used on the CS Pozzolan-Perlite Project in Nevada.

Patrick Cheetham, Sunrise's executive chairman, said: "Whilst we see a bright future for Block Energy this disposal is in line with our strategy to sell or joint venture non-core assets as an alternative to raising money from the markets as we progress our CS Project towards production.” 

Block Energy shares have risen four-fold in value since the start of 2019 following the success of a horizontal well at its West Rustavi prospect in Georgia.

The well flowed at 1,100 barrels per day, which was the best performance of a well in the country for fifty years according to the company.

Shares in Sunrise rose 6% to 0.09p.

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Wed, 19 Jun 2019 09:46:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222408/sunrise-resources-exits-block-energy-after-spectacular-year-for-oiler-222408.html
<![CDATA[RNS press release - SALE OF SHARES IN BLOCK ENERGY PLC ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190619070002_14115800/ Wed, 19 Jun 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190619070002_14115800/ <![CDATA[News - Sunrise Resources reports successful presentation at pozzolan symposium ]]> https://www.proactiveinvestors.co.uk/companies/news/221360/sunrise-resources-reports-successful-presentation-at-pozzolan-symposium-221360.html Sunrise Resources PLC (LON:SRES) presented at the inaugural meeting of the Natural Pozzolan Association in Arizona on May 16 and 17.

The meeting was very well attended with over 70 delegates, mainly from the USA, but with several other countries also represented. A number of large multi-national cement and concrete producers and fly ash distribution companies were represented including some already engaged in joint testwork programmes and marketing/off-take discussions with the company.

READ: SVS has ‘speculative buy’ on Sunrise Resources, sees 0.41p target rising sharply as permitting progresses

The company says its presentation was very well received, and it was clear from the level of interest, and intense question and answer sessions that there is much concern for the future supply of fly ash from coal-fired generating stations.

"The NPA meeting and the company's presentation have created an increased level of awareness and interest in our CS project for natural pozzolan which we are now following up alongside our several ongoing marketing discussions,” said Sunrise chairman Patrick Cheetham.

“Moreover, the meeting has reinforced our belief that that the closure of coal-fired power stations and the resulting shortage of fly ash will be a "black swan event" within the industry that will see the continuing resurgence of natural pozzolan as a major component in concrete. We are well set to participate in this resurgence in a part of the US that is particularly badly affected and to pursue this scalable business opportunity in future on a wider basis."

 

 

 

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Mon, 03 Jun 2019 07:59:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221360/sunrise-resources-reports-successful-presentation-at-pozzolan-symposium-221360.html
<![CDATA[RNS press release - REPORT ON NPA SYMPOSIUM ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190603070011_14095206/ Mon, 03 Jun 2019 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190603070011_14095206/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190531172545_14094899/ Fri, 31 May 2019 17:25:45 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190531172545_14094899/ <![CDATA[News - Sunrise Resources reports progress on key projects in first half ]]> https://www.proactiveinvestors.co.uk/companies/news/221214/sunrise-resources-reports-progress-on-key-projects-in-first-half-221214.html Sunrise Resources PLC (LON:SRES) said it remains “firmly focused” on developing its CS Pozzolan-Perlite Project in Nevada, USA, this year after submitting a plan of operations to regulators.

In its results for the six months to the end of March, the group said it is targeting completion of the permitting process for the project in the fourth quarter.

READ: Sunrise Resources gets the go-ahead for work programme at NewPerl

The plan of operations for the CS project, which sets out how the mine will be developed for production of natural pozzolan and perlite over time, has been sent to the US Bureau of Land Management and Nevada State regulators.

Elsewhere, the miner’s permit submission for exploration at the NewPerl perlite project in the US has been approved by the Bureau of Land Management.

The work programme is designed to test the Knoll prospect at NewPerl. The permit allows for eight drill holes and bulk sampling of up to 1,000 tons.

“Whilst we remain firmly focused on developing the CS Project in 2019, we now have enough confidence in the quality of the perlite on the NewPerl claims to consider this as a future ‘satellite’ feed to the CS Project and in particular for premium grades of perlite,” said chairman Patrick Cheetham.

At the group’s County Line Diatomite Project in Nevada there has been renewed interest from a potential customer that is now testing samples.

“These developments serve as a reminder of the value not only in the CS and NewPerl Projects but also our non-core projects as we continue our efforts to turn these to account,” Cheetham said.

“In anticipation of a busy second half of the financial year we look forward to reporting further progress as we develop the CS Project toward production.”

Cheetham said he was also encouraged to see VR Resources, in which Sunrise Resources holds shares, recently report the discovery of a major copper porphyry system on the Junction Project.

Sunrise Resources also owns holdings in Block Energy PLC (LON:BLOE), which has seen its shares rise after reporting progress in its Georgian oil interests.

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Thu, 30 May 2019 11:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221214/sunrise-resources-reports-progress-on-key-projects-in-first-half-221214.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190530101935_14092374/ Thu, 30 May 2019 10:19:35 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190530101935_14092374/ <![CDATA[RNS press release - Investor Presentation Available ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190517070002_14077592/ Fri, 17 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190517070002_14077592/ <![CDATA[News - Sunrise Resources gets the go-ahead for work programme at NewPerl ]]> https://www.proactiveinvestors.co.uk/companies/news/220193/sunrise-resources-gets-the-go-ahead-for-work-programme-at-newperl-220193.html Sunrise Resources PLC shares jumped on Tuesday as it said it has had its permit submission for exploration at the NewPerl perlite project in the USA approved by the Bureau of Land Management.

The work programme is designed to test the Knoll prospect at NewPerl.

READ: SVS has ‘speculative buy’ on Sunrise Resources, sees 0.41p target rising sharply as permitting progresses

The permit allows for eight drill holes and bulk sampling of up to 1,000 tons.

Perlite from the surface of the Knoll Prospect has returned excellent expansion results in testing for coarse and super coarse horticultural applications.

"We see potential for the NewPerl project to provide a supplemental feed to the CS project,” said Sunrise chairman Patrick Cheetham.

“Our objective is to define mineable tonnages of premium quality perlite that can be processed using the planned CS project infrastructure. This will allow us to move into commercial-scale testing of samples from NewPerl at a much earlier stage than was possible for the CS project."

In afternoon trading, shares in Sunrise Resources were 10% higher at 0.11p.

 -- Adds share price --

 

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Tue, 14 May 2019 08:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220193/sunrise-resources-gets-the-go-ahead-for-work-programme-at-newperl-220193.html
<![CDATA[RNS press release - NEWPERL PROJECT - EXPLORATION PERMIT APPROVAL ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190514070004_14072373/ Tue, 14 May 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190514070004_14072373/ <![CDATA[News - Sunrise Resources shines at it submits operation plan for CS Pozzolan-Perlite project ]]> https://www.proactiveinvestors.co.uk/companies/news/220127/sunrise-resources-shines-at-it-submits-operation-plan-for-cs-pozzolan-perlite-project-220127.html Sunrise Resources PLC (LON:SRES) shares were lifted on Monday after the group hit a “key milestone” with the submission of a plan of operations for its CS Pozzolan-Perlite Project in Nevada, USA.

The resource developer said the document would now be reviewed by the US Bureau of Land Management, which would conduct an environmental assessment once the process was deemed complete.

READ: Sunrise Resources reports positive progress at CS Pozzolan-Perlite project

The document includes development plans for the site as well as programmes for drilling and bulk sampling to test for extensions of perlite and natural pozzolan, which would take place alongside the mining activity.

"This is a key milestone in the permitting of the CS Project following months of hard work by our small team”, said Patrick Cheetham, Sunrise’s executive chairman.

“We look forward now to progressing the project on several fronts as we continue to advance the project towards production."

The update followed news at the end of April when the company said new tests at the CS project had shown promise for the production of premium-value super-coarse horticultural grades of perlite.

In mid-morning trading, shares were up 4% at 0.1p.

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Mon, 13 May 2019 10:18:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220127/sunrise-resources-shines-at-it-submits-operation-plan-for-cs-pozzolan-perlite-project-220127.html
<![CDATA[RNS press release - CS PROJECT - SUBMISSION OF PLAN OF OPERATIONS ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190513083407_14071201/ Mon, 13 May 2019 08:34:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190513083407_14071201/ <![CDATA[RNS press release - Director Dealing, Issue of Equity, TVR ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190501122752_14059559/ Wed, 01 May 2019 12:27:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190501122752_14059559/ <![CDATA[News - Sunrise Resources reports positive progress at CS Pozzolan-Perlite project ]]> https://www.proactiveinvestors.co.uk/companies/news/219003/sunrise-resources-reports-positive-progress-at-cs-pozzolan-perlite-project-219003.html Sunrise Resources PLC (LON:SRES) said the latest tests at its CS Pozzolan-Perlite project in Nevada show promise for the production of premium-value super-coarse horticultural grades of perlite.

The recently completed tests were aimed at the production and expansion of super-coarse horticultural grades of perlite from the project.

READ: Sunrise Resources: International cement firm completes successful product test

Sunrise said the tests produced coarse expanded perlite with acceptable yields.

Bulk sampling confirmed that the perlite targeted for first production can be mined mechanically by excavator or by ripping using a bulldozer, without the need for more costly drilling and blasting.

Seven tons of the perlite bulk sample have been submitted to a process equipment supplier, which has arranged trial crushing and screening through production scale mobile processing equipment.

The group said the work will provide extra information on the crushing and screening characteristics of the perlite, allow for refinement of the mobile process plant design and provide information on yields of horticultural grade perlite.

Sufficient material is expected to be produced during crushing and screening of perlite to provide samples for expansion testing in a commercial furnace.

Tests have also been completed with a second major producer of cement and ready-mix concrete using the company's natural pozzolan.

READ: Sunrise Resources excited by VR Resources’ latest discovery at Junction property in Nevada

Sunrise said the results are consistent with the results of previously announced tests and compare favourably with concrete made using coal power station fly ash, currently the most commonly used form of supplementary cementitious material (SCM).

Fly ash and natural pozzolan SCMs improve the long-term strength and resistance of concrete.

The group has arranged for 18 tons of material left over from the bulk sample to be submitted to a commercial custom grinding facility.

The grinding of this sample is expected to provide further information on grinding times and energy requirements for production of a finished natural pozzolan product.

The ground product will be supplied to a number of separate customers for evaluation.

Meanwhile, the group continues to advance its permitting work for the development of the CS project. 

It expects to submit its draft plan of operations and reclamation permit as a joint application to the Federal US Bureau of Land Management and Nevada Division of Environmental Protection around the end of this month.

Sunrise executive chairman Patrick Cheetham said: "I am pleased to provide this detailed update on our progress with permitting and market development testwork as we continue to prove the value of our natural pozzolan and perlite with future customers.

“Gaining market acceptance is a long process for industrial minerals such as perlite and pozzolan but I am pleased with our progress and market developments mean both products are increasingly in demand.”

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Wed, 24 Apr 2019 07:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219003/sunrise-resources-reports-positive-progress-at-cs-pozzolan-perlite-project-219003.html
<![CDATA[RNS press release - Project Updates ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190424070003_14049211/ Wed, 24 Apr 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190424070003_14049211/ <![CDATA[RNS press release - Issue of Warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190222145144_13979212/ Fri, 22 Feb 2019 14:51:44 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190222145144_13979212/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190221140609_13977622/ Thu, 21 Feb 2019 14:06:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190221140609_13977622/ <![CDATA[News - Sunrise Resources: International cement firm completes successful product test ]]> https://www.proactiveinvestors.co.uk/companies/news/215026/sunrise-resources-international-cement-firm-completes-successful-product-test-215026.html Sunrise Resources Plc (LON:SRES) told investors that a major international cement company has successfully completed tests using its natural pozzolan material, taken from the CS pozzolan-perlite project in Nevada.

The company highlighted that, in the test work, its natural pozzolan replaced 20% of the cement in the concrete mix.

In the test, which was benchmarked against a commercially available product, the company’s pozzolan performed well with good strength, low shrinkage and good setting times.

READ: Sunrise Resources excited by latest discovery in Nevada

The results were described as ‘favourable’ compared with the benchmark commercial sample.

It is important in demonstrating the value of the company's natural pozzolan as a replacement for fly ash in the large end-use ready-mix concrete market, Sunrise noted.

"We are releasing this news to highlight that, behind the scenes and out of the spotlight, the company is actively engaged in a number of ongoing testing programmes with a number of international cement companies and ready-mix companies that have large operations in the western United States and which are potential customers and partners for our future production of natural pozzolan from the CS Project,” said Patrick Cheetham, Sunrise executive chairman.

The update comes ahead of the company’s annual general meeting which takes place in London later today.

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Thu, 21 Feb 2019 08:16:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215026/sunrise-resources-international-cement-firm-completes-successful-product-test-215026.html
<![CDATA[RNS press release - UPDATE & AGM STATEMENT ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190221070001_13976407/ Thu, 21 Feb 2019 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190221070001_13976407/ <![CDATA[News - Sunrise Resources excited by VR Resources’ latest discovery at Junction property in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/213585/sunrise-resources-excited-by-vr-resources-latest-discovery-at-junction-property-in-nevada-213585.html Canada-listed explorer VR Resources has discovered a Cretaceous-age porphyry copper system at its Junction property in Nevada – a project it bought from Sunrise Resources Plc (LON:SRES) in the summer of 2017.

As part of the sale, it was agreed that Sunrise would receive a 3% cut of future production, while the AIM company also has a small stake in VR.

READ: VR Resources confirms porphyry copper system at Junction property in Nevada

Vancouver-based VR has completed two reconnaissance drill holes at Junction, one at each of the Denio Summit and Granite Mountain targets which lie at either end of the mineralised trend.

The plan now is to focus on those two areas, as well as the Lone Mountain target. Only Granite Mountain falls outside of the area where Sunrise holds the 3% net smelter royalty.

“This is great news,” said Sunrise executive chairman Patrick Cheetham.

“VR has stated that the upside potential of the porphyry-style copper mineralization discovered in this drill program lies in its age.

“The Junction property is hosted within a polyphase, middle Cretaceous batholith that has the same age as the Robinson porphyry copper deposit at Ely, Nevada which has a history going back to 1876 and which is still in production today operated as a large open-pit mine by KGHM Polska Miedz S.A. This is a proven analogue for further exploration at Junction.”

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Wed, 30 Jan 2019 07:34:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213585/sunrise-resources-excited-by-vr-resources-latest-discovery-at-junction-property-in-nevada-213585.html
<![CDATA[RNS press release - VR Resources Ltd - Junction Project ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190130070002_13951049/ Wed, 30 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190130070002_13951049/ <![CDATA[News - SVS has ‘speculative buy’ on Sunrise Resources, sees 0.41p target rising sharply as permitting progresses ]]> https://www.proactiveinvestors.co.uk/companies/news/212971/svs-has-speculative-buy-on-sunrise-resources-sees-041p-target-rising-sharply-as-permitting-progresses-212971.html SVS Securities has reiterated a ‘speculative buy’ rating on the pozzolan-perlite developer Sunrise Resources PLC (LON:SRES) with a target price of 0.41p, although the broker thinks this could rise sharply as permitting and other risk factors reduce going forward.

In a note to clients, analysts at SVS said they think Sunrise offers “a clearly defined strategy focused on generating near-term cash flow together with value-enhancing minerals discoveries.”

READ: Sunrise Resources surges as it reports positive results from latest discoveries at NewPerl

They noted that Sunrise Resources is targeting first production from its lead CS Pozzolan-Perlite Project in Nevada before the end of this calendar year.

The analysts said, assuming a low capex start-up option following successful commercial trials, mine permitting looks on track for completion during the third quarter of 2019.

They added that the green credentials of natural pozzolan makes it the obvious alternative for an industry facing an increasingly urgent need to close the fly ash supply-gap created by the mass closure of US coal-fired power stations.

The early signing of two offtake MOUs with local Perlite processing companies also highlights the demand for this favoured growing medium, the analysts said.

“Given that the pozzolan asset is free-digging with minimal requirement for crushing, the low opex CS Project has potential to earn premium margins compared to its peers as output is ramped-up,” they added.

Low-cost production to commence in 2020

On this basis, the SVS analysts project the group commencing low-cost production early in 2020, leading to commercial deliveries in the second quarter with sufficient momentum to generate a modest positive cash flow by period end.

They said: “Having factored in the need for significant new expenditure in facilitation of these goals, a risk. adj. DCF for the CS Project suggests 193% upside to existing levels (based on a 70% discount factor) despite prudently awarding a zero valuation to Sunrise’s remaining legacy assets.”

The analysts concluded: “Although such industrial minerals presently enjoy a strong US macro backdrop, Sunrise must nevertheless be considered speculative given continuing risks that include timing, costing, customer buy-in, prospective funding and permit finalisation, all of which remain key considerations.”

READ: Sunrise Resources raises funds to support Nevada operations

The SVS analysts noted that a recent cash call by Sunrise Resources provided additional working capital, with £350,000 raised, before expenses, through a placing of 292mln new ordinary shares at a price of 0.12p. The shares currently trade at 0.14p.

They pointed out that Sunrise Resources’ full-year results to end-September 2018 highlighted operational progress, with initial permit applications having been submitted with mine/business/permitting plans completed by management.

However, they noted that additional funding is likely to be required during full-year 2018/19, to progress mine development to first production, with low-capex start-up options now being evaluated.

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Mon, 21 Jan 2019 12:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212971/svs-has-speculative-buy-on-sunrise-resources-sees-041p-target-rising-sharply-as-permitting-progresses-212971.html
<![CDATA[News - Sunrise Resources raises funds to support Nevada operations ]]> https://www.proactiveinvestors.co.uk/companies/news/212214/sunrise-resources-raises-funds-to-support-nevada-operations-212214.html Sunrise Resources Plc (LON:SRES) has raised £350,000 through a share placing to support activities at the CS pozzolan-perlite project in Nevada.

It is selling some 291.6mln new shares priced at 0.12p each.

The new shares represent around 10% of the company’s enlarged share capital and the placing is priced at a 14% discount to Tuesday’s closing share price.

READ: Sunrise Resources surges as on latest discoveries at NewPerl

The cash is earmarked for ongoing mine permitting, customer trials and other work required for development of the project.

"It is pleasing to see that the company has broad support for its strategic plan in what are undoubtedly difficult and uncertain stock-market conditions,” said Patrick Cheetham, Sunrise executive chairman.

“As we move towards the more advanced stages of mine permitting we look forward to reporting further news in anticipation of a busy and productive 2019."

Pozzolan is an ingredient used in cement and concrete mixes, while perlite is a material that’s commonly used in horticulture and agriculture.

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Wed, 09 Jan 2019 07:52:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212214/sunrise-resources-raises-funds-to-support-nevada-operations-212214.html
<![CDATA[RNS press release - Placing and Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190109070001_13928115/ Wed, 09 Jan 2019 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190109070001_13928115/ <![CDATA[News - Sunrise Resources surges as it reports positive results from latest discoveries at NewPerl ]]> https://www.proactiveinvestors.co.uk/companies/news/211879/sunrise-resources-surges-as-it-reports-positive-results-from-latest-discoveries-at-newperl-211879.html Sunrise Resources Plc (LON:SRES) shares surged in early trading Thursday after it reported positive results from the testing of perlite samples from new discovery areas of its NewPerl project in Nevada.

The resources developer said expansion testing of reconnaissance samples taken in October had indicated that the majority were suitable for the production of horticultural grade perlite, and now the project could move “quickly” toward drilling, bulk sampling, and commercial scale testing.

READ: Sunrise Resources finds more perlite at NewPerl project in Nevada

Perlite is a form of volcanic glass that is often used in horticulture to prevent soil compaction and allow more air around the roots of plants.

Sunrise added that the project area was now split in a new northern area named as the Jackson Wash project, while the southern area would continue to be known as NewPerl.

The results follow news in October that the company had staked 40 additional claims at NewPerl, more than trebling its area after mapping discovered new, large areas of outcropping perlite.

Sunrise’s executive chairman, Patrick Cheetham, said the firm now had “sufficient confidence in the quality of the perlite on the NewPerl claims” to consider it as a future feed to its flagship CS project, located around 85km from NewPerl.

Shares were up 18.2% at 0.13p.

--Adds perlite description and updates share price--

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Thu, 03 Jan 2019 07:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211879/sunrise-resources-surges-as-it-reports-positive-results-from-latest-discoveries-at-newperl-211879.html
<![CDATA[RNS press release - NEWPERL PROJECT - TEST RESULTS ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190103070009_13922019/ Thu, 03 Jan 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20190103070009_13922019/ <![CDATA[RNS press release - Posting of Annual Accounts and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181220110003_13911472/ Thu, 20 Dec 2018 11:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181220110003_13911472/ <![CDATA[RNS press release - Director's Dealing ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181220070006_13910592/ Thu, 20 Dec 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181220070006_13910592/ <![CDATA[News - Sunrise Resources receives new shares in VR Resources following start of drilling at Junction project ]]> https://www.proactiveinvestors.co.uk/companies/news/211379/sunrise-resources-receives-new-shares-in-vr-resources-following-start-of-drilling-at-junction-project-211379.html Sunrise Resources PLC (LON:SRES) has received 50,000 new shares in VR Resources Ltd (CVE:VRR) following the start of drilling at the Junction copper-silver-gold project in Nevada.

The shares were issued to Sunrise as part of a sale agreement with VRR signed last year, with another 250,000 shares due in the event VRR completes a 43-101 compliant mineral resource estimate for the project.

READ: Sunrise Resources to gain new shares in VR Resources as preparation begins for drilling at Junction project

Following the latest share issue, Sunrise now holds 100,000 shares in VRR.

The company also holds a 3% net smelter return royalty interest in the original 15 claims sold to VRR as part of the project, in addition to any additional claims staked in a two-mile radius by VRR.

VRR began preparations for drilling at the site in early November after receiving final approvals for drill permits at the project.

In early trading Tuesday, Sunrise shares were steady around 0.1p.

-- Adds share price --

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Tue, 18 Dec 2018 07:54:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211379/sunrise-resources-receives-new-shares-in-vr-resources-following-start-of-drilling-at-junction-project-211379.html
<![CDATA[RNS press release - VR Resources Ltd - Junction Project Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181218070004_13907007/ Tue, 18 Dec 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181218070004_13907007/ <![CDATA[News - Sunrise Resources hails “very busy year” as it reports final results ]]> https://www.proactiveinvestors.co.uk/companies/news/210988/sunrise-resources-hails-very-busy-year-as-it-reports-final-results-210988.html Sunrise Resources Plc (LON:SRES) has hailed a “very busy year” for its pozzolan, perlite, copper, silver, gold, and diamond projects as it reported its final results for the year.

The firm, which is focused on its key asset of the CS Pozzolan Perlite project in Nevada, said the project had completed a commercial scale trial for production of horticultural grade expanded perlite with an MOU partner firm as well as for ground natural pozzolan with a large cement company.

READ: Sunrise Resources to gain new shares in VR Resources as preparation begins for drilling at Junction project

Sunrise added that an initial 15-year mine plan had been completed during the year targeting production of up to 100,000 tonnes of perlite and 500,000 tonnes of natural pozzolan, with mine permitting targeting completion in the third quarter of 2019.

Outside of CS, the firm said it had discovered more perlite at its NewPerl project, expanding the claim holding by 250%, while it had also started drilling at the Junction Copper-Silver Gold project, through which it would receive 50,000 further shares in Junction’s operator VR Resources Ltd.

Meanwhile, Sunrise said it had also decided to surrender its Cue Diamond project in Australia, saying its strategy was to focus expenditure on the CS project.

Patrick Cheetham, executive chairman of Sunrise, said that the firm had also seen “a number of positive market developments this year, both for natural pozzolan and perlite”, which had resulted in “a high level of interest in our project from potential customers and the first commercial trials in customers' facilities”.

The company reported a loss before income tax for the year of £786,672 compared to £311,046 last year, while it ended the year with cash and cash equivalents of £235,722.

In late-afternoon trading, Sunrise shares were down 4.1% at 0.12p.

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Tue, 11 Dec 2018 15:28:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210988/sunrise-resources-hails-very-busy-year-as-it-reports-final-results-210988.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181211143953_13899673/ Tue, 11 Dec 2018 14:39:53 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181211143953_13899673/ <![CDATA[RNS press release - Appointment of Nominated Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181207070006_13895069/ Fri, 07 Dec 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181207070006_13895069/ <![CDATA[RNS press release - Update re Nominated Adviser Status ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181126070007_13879445/ Mon, 26 Nov 2018 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181126070007_13879445/ <![CDATA[News - Sunrise Resources steams ahead with CS pozzolan-perlite project as it makes new discoveries at NewPerl ]]> https://www.proactiveinvestors.co.uk/companies/news/209111/sunrise-resources-steams-ahead-with-cs-pozzolan-perlite-project-as-it-makes-new-discoveries-at-newperl-209111.html Sunrise Resources Plc (LON:SRES) is powering ahead with its flagship CS pozzolan-perlite project in Nevada, having recently completed commercial trials on bulk samples at the project.

Two tons of raw perlite have been successfully expanded in a commercial production furnace to produce horticultural grade perlite suitable for the cannabis industry.

READ: Sunrise Resources completes commercial trials on bulk samples from CS project

In addition, 100 tons of pozzolan has been ground in a commercial scale production mill and tested positive for compliance with industry standards for natural pozzolan.

More perlite at NewPerl

About 85 kilometres away from CS, the group has also discovered extensive areas of perlite at its NewPerl project.

It has now staked an additional 40 claims, which has more than trebled the size of the project claim area.

READ: Sunrise Resources finds more perlite at NewPerl project in Nevada

The firm has taken some additional samples from the new discovery areas which it has sent to a lab in Greece for characterisation and testing for horticultural-grade perlite.

Earlier samples tested positive for horticultural-grade perlite – meaning it can be added to soil to prevent compaction – with Sunrise executive chairman Patrick Cheetham saying the latest ones “appear to be similar”.

Demand growing for pozzolan and perlite

Natural pozzolans were used in building as far back as Roman times but are enjoying a revival as they are seen as more environmentally friendly than modern alternatives.

Portland cement, commonly used in cement and concrete mixes, for example, is responsible for 5% of global man-made carbon dioxide emissions.

Portland cement manufacturers in the US have also traditionally used fly ash from coal-fired power stations as a key ingredient.

But as US coal-fired power stations are closed on environmental grounds, half have gone since 2010, natural pozzolan producers have seen demand start to rise again.

“Cement companies and fly ash suppliers are already grappling with shortages of key raw materials, which is set to increase further given that largest supplier to western markets, the coal-fired Navajo Power Station in Arizona is scheduled to close 2019,” said City broker Northland Capital in a note.

Perlite, an industrial mineral often used in horticulture to stop soil compacting, is also enjoying an uptick in demand as a result of the burgeoning cannabis industry, particularly since the legalisation of recreational use in Canada in October.

“The perlite market in North America continues to be strong as industrial-scale cannabis growers build-out major new capacity following Canadian legalization and the relaxation of legislation within a growing number of US states,” Northland said, adding that the discoveries at NewPerl could potentially offer synergies that would add value to SunRise's core CS project.

With shares trading at around 0.16p, Sunrise carries a market cap of about £4mln.

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Tue, 13 Nov 2018 09:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209111/sunrise-resources-steams-ahead-with-cs-pozzolan-perlite-project-as-it-makes-new-discoveries-at-newperl-209111.html
<![CDATA[News - Sunrise Resources to gain new shares in VR Resources as preparation begins for drilling at Junction project ]]> https://www.proactiveinvestors.co.uk/companies/news/208754/sunrise-resources-to-gain-new-shares-in-vr-resources-as-preparation-begins-for-drilling-at-junction-project-208754.html Sunrise Resources Plc (LON:SRES) is expecting new shares in VR Resources Ltd, in which it already holds an interest, as the company began preparations for drilling at the Junction Copper-Silver-Gold Project area in Nevada, USA.

Patrick Cheetham, executive chairman of Sunrise, said that the commencement of drilling would trigger the issue of 50,000 VR shares to Sunrise as per a sale agreement signed in August last year, taking the total shares issued under the agreement so far to 100,000.

WATCH: Sunrise Resources chairman spells out steps towards production at CS Project

The company said VR had received final approvals for drill permits and start-up was planned for later this month.

VR’s target areas for drilling include the Denio Summit, which lies within Sunrise’s area of interest, defined as the original 15 mining claims staked by Sunrise on the Denio Summit target and to all claim areas staked by Sunrise or VR within a 2-mile area surrounding these.

Sunrise said VR would drill-test several anomalies in the Denio Summit area, including a series of mineralized quartz-feldspar granite dykes and gold-bearing quartz veins at surface along a 1.5 kilometre trend, a broad soil anomaly with copper, silver, gold and tungsten enriched in multiple stations on multiple lines, and chargeability and resistivity anomalies below the surface dykes.

In late-afternoon trading Wednesday, Sunrise shares were steady around 0.1p.

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Wed, 07 Nov 2018 15:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208754/sunrise-resources-to-gain-new-shares-in-vr-resources-as-preparation-begins-for-drilling-at-junction-project-208754.html
<![CDATA[RNS press release - Junction Project - Exploration Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107144137_13858883/ Wed, 07 Nov 2018 14:41:37 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107144137_13858883/ <![CDATA[RNS press release - Director Dealing, Issue of Equity, TVR ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107123404_13858713/ Wed, 07 Nov 2018 12:34:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181107123404_13858713/ <![CDATA[RNS press release - Nominated Adviser Status ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181101155348_13852084/ Thu, 01 Nov 2018 15:53:48 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181101155348_13852084/ <![CDATA[Media files - Sunrise Resources chairman spells out steps towards production at CS Project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11079/sunrise-resources-chairman-spells-out-steps-towards-production-at-cs-project-11079.html Thu, 01 Nov 2018 10:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11079/sunrise-resources-chairman-spells-out-steps-towards-production-at-cs-project-11079.html <![CDATA[News - Sunrise Resources finds more perlite at NewPerl project in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/208196/sunrise-resources-finds-more-perlite-at-newperl-project-in-nevada-208196.html Sunrise Resources Plc (LON:SRES) has discovered further extensive areas of perlite at its NewPerl pozzolan-perlite project in Nevada.

NewPerl is located 85 kilometres away from the company’s flagship CS pozzolan-perlite project.

WATCH: Sunrise boss sets out steps towards production at CS READ: Sunrise completes commercial trials on bulk samples from CS project

Recent mapping carried out by Sunrise at NewPerl identified new, large areas of outcropping perlite.

It has now staked an additional 40 claims, which has more than trebled the size of the project claim area.

Targeting method works (again)

“I am pleased to be announcing the expansion of our claim holdings at the NewPerl project,” said executive chairman Patrick Cheetham.

“This new discovery is proof of concept of the targeting method that originally led us to the discovery of the perlite and pozzolan deposits at our CS project and which we now know can be successfully applied elsewhere.

“We have now found and claimed extensive areas of perlite at NewPerl, at multiple separate locations.”

He added: “It is too early to say how the NewPerl Project will fit in with the development of our CS project - which is clearly our priority - but it adds value to and has synergy with the business we are developing.”

Samples sent to Greek lab

The AIM-quoted firm has taken some additional samples from the new discovery areas which it has sent to a lab in Greece for characterisation and testing for horticultural-grade perlite.

Earlier samples tested positive for horticultural-grade perlite – meaning it can be added to soil to prevent compaction – and Cheetham said the latest ones “appear to be similar”.

Canadian cannabis growers to fuel demand for perlite

City broker Northland Capital said the new discoveries fit in will with Sunrise’s development of the more advanced CS project, “potentially offering synergies while adding value to the company’s core business opportunity”.

Analysts also highlighted the “more favourable” market conditions for pozzolans and perlite, with cannabis growers in Canada, where the drug was recently legalised, expected to push up demand.

“Cement companies and fly ash suppliers are already grappling with shortages of key raw materials, which is set to increase further given that largest supplier to western markets, the coal-fired Navajo Power Station in Arizona is scheduled to close 2019,” read a note to clients.

“Meanwhile the perlite market in North America continues to be strong as industrial-scale cannabis growers build-out major new capacity following Canadian legalization and the relaxation of legislation within a growing number of US states.”

Shares rose 5.2% to 0.17p in mid-morning trade on Wednesday.

--Updates for share price and analyst comment--

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Wed, 31 Oct 2018 07:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208196/sunrise-resources-finds-more-perlite-at-newperl-project-in-nevada-208196.html
<![CDATA[RNS press release - NewPerl Project - new perlite discoveries ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181031070004_13848447/ Wed, 31 Oct 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181031070004_13848447/ <![CDATA[News - Sunrise Resources completes commercial trials on bulk samples from CS project ]]> https://www.proactiveinvestors.co.uk/companies/news/208098/sunrise-resources-completes-commercial-trials-on-bulk-samples-from-cs-project-208098.html Sunrise Resources PLC (LON:SRES) saw its shares rise on Tuesday after the firm revealed it has completed commercial trials on bulk samples taken from the CS pozzolan-perlite project in Nevada.

Two tons of raw perlite have been successfully expanded in a commercial production furnace to produce horticultural grade perlite suitable for the cannabis industry.

READ: Sunrise Resources focused on pozzolan/perlite development plans

And 100 tons of pozzolan has been ground in a commercial scale production mill and tested positive for compliance with industry standards for natural pozzolan.

Sunrise has now also completed its initial three phase, 15-year mine plan for the CS project.

Demand for natural pozzolan is expected to increase as fly ash shortages continue to build, while demand for horticultural grade perlite is being stimulated by increasing legalisation of cannabis.

"I am delighted to be announcing the successful completion of commercial-scale trials on bulk samples of both the pozzolan and perlite from our CS project,” said Sunrise chairman Patrick Cheetham.

“These pave the way for commercial arrangements with the parties involved and tests are also in progress with other potential customers. It is a good time to be entering these markets. Cement companies and fly ash suppliers are already grappling with a shortage of fly ash and this shortage will be intensified when the largest supplier to western markets, the large coal-fired Navajo power station in Arizona, closes, as expected in 2019.

"Meanwhile, the perlite market in the western US continues to be strong as more US States, and now Canada, continue the legalisation of cannabis for which perlite provides an ideal growing medium," Cheetham added.

In early afternoon trading, Sunrise shares were 13.8% higher at 0.17p.

In a note to clients, analysts at ‘house’ broker Northland Capital commented: “The successful completion of commercial-scale trials on bulk samples of both the pozzolan and perlite from Sunrise's CS Project paves the way for commercial arrangements with the parties involved, while tests are also is underway with other potential customers.”

They added: “In anticipation of meeting strong demand for its output, Sunrise continues to advance its plant design and mine permitting.”

 -- Adds share price, analyst comment --

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Tue, 30 Oct 2018 08:22:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208098/sunrise-resources-completes-commercial-trials-on-bulk-samples-from-cs-project-208098.html
<![CDATA[RNS press release - CS Project - Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181030070006_13846699/ Tue, 30 Oct 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20181030070006_13846699/ <![CDATA[News - Sunrise Resources completes bulk sampling for commercial trials at the CS project in Nevada ]]> https://www.proactiveinvestors.co.uk/companies/news/204034/sunrise-resources-completes-bulk-sampling-for-commercial-trials-at-the-cs-project-in-nevada-204034.html Sunrise Resources Plc (LON:SRES) has completed bulk sampling for commercial-scale trials at its CS pozzolan-perlite project in Nevada.

100 tons of natural pozzolan has been mined and supplied to a potentially large customer for commercial-scale testing.

READ: Sunrise Resources focused on pozzolan/perlite development plans

Eight tons of perlite has been mined for testing pursuant to a marketing memorandum of understanding signed earlier this year with a potential customer. Meanwhile, the contract has now been awarded to SGS for processing perlite bulk sample to horticultural perlite grades. Internal mine planning work has also been completed and a contract awarded to SRK Consulting to prepare mine designs for inclusion in the company's permit applications.  

"This phase of bulk sampling marks an important transition from exploration, bench-scale testing and smaller scale customer trials to commercial-scale testing and market development,” said executive chairman Patrick Cheetham.

“This is progressing hand-in-hand with mine design, plant design and mine permitting."    

 

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Mon, 03 Sep 2018 08:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204034/sunrise-resources-completes-bulk-sampling-for-commercial-trials-at-the-cs-project-in-nevada-204034.html
<![CDATA[RNS press release - CS Project - Commercial Trials ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180903070005_13775539/ Mon, 03 Sep 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180903070005_13775539/ <![CDATA[RNS press release - Director dealing and issue of equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180822103148_13764498/ Wed, 22 Aug 2018 10:31:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180822103148_13764498/ <![CDATA[News - Sunrise Resources raises new capital to support progress at CS project ]]> https://www.proactiveinvestors.co.uk/companies/news/201465/sunrise-resources-raises-new-capital-to-support-progress-at-cs-project-201465.html Sunrise Resources Plc (LON:SRES) has raised £400,000 in a share placing to support the company’s CS Pozzolan-Perlite Project in Nevada, USA.

Some 285.7mln new shares are being sold at a price of 0.14p each.

READ: Sunrise Resources jumps higher on news of CS project progress

In a statement the company said that it will use the new capital will be used as it continues mine planning and permitting process work, and, as it continues customer trials of its cement ingredient products.

"We are pleased to welcome new shareholders to our register which share the board's vision for the company and we look forward to reporting on future progress as we advance the CS Project towards production and build our customer base," said Patrick Cheetham, Sunrise executive chairman.

The placing was arranged by SVS Securities, which is now named as the company’s joint broker.

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Tue, 24 Jul 2018 15:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201465/sunrise-resources-raises-new-capital-to-support-progress-at-cs-project-201465.html
<![CDATA[RNS press release - Placing and Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180724144507_13729630/ Tue, 24 Jul 2018 14:45:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/963/LSE20180724144507_13729630/ <![CDATA[News - Sunrise Resources jumps on VR Resources’ exploration programme at Junction project ]]> https://www.proactiveinvestors.co.uk/companies/news/200598/sunrise-resources-jumps-on-vr-resources-exploration-programme-at-junction-project-200598.html Sunrise Resources PLC (LON:SRES) shares jumped in afternoon trading as the company announced an update for the Junction copper-silver-gold-project area in Nevada, USA.

VR Resources Ltd revealed that its ongoing surface exploration this spring has strengthened the targets within the high-grade copper-silver-gold vein system at the Junction Project, in which Sunrise holds an interest.

READ: Sunrise Resources jumps higher on news of CS project progress

VR said it continued to compile and synthesize new data towards the prioritisation of targets for a first-pass drill programme planned for this autumn.

The company said the summary update for the Denio Summit Target, which occurs wholly within the Sunrise area of interest, revealed 1.5km trend of surface showings of copper-silver-gold quartz veins and pegmatites.

Patrick Cheetham, executive chairman, commented: "I am pleased to see that VR is continuing its systematic exploration of this exciting property and planning a drill programme this autumn, an event that triggers a further issue of shares to Sunrise.”

He added: “Whilst our focus remains firmly on developing the CS Project in Nevada, this news is a timely reminder of the value that we have built up in our wider portfolio of drill stage exploration projects.”

In afternoon trading, Sunrise Resources shares jumped 4.8% to 0.17p. 

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Wed, 11 Jul 2018 14:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200598/sunrise-resources-jumps-on-vr-resources-exploration-programme-at-junction-project-200598.html