CS PROJECT - UPDATE
4 December 2019
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
CS PROJECT - UPDATE
Following a progress review with the Company's lead permitting consultant, EM Strategies, Sunrise Resources plc wishes to advise of a delay to the completion of mine permitting for its CS Pozzolan-Perlite Project in Nevada, USA.
The delay has been caused by the late introduction by the lead regulator, the US Bureau of Land Management ("BLM"), of some additional information reporting requirements for one of the Company's Supplemental Environmental Reports.
Whilst the BLM has undertaken to work expeditiously to review the additional information in order to mitigate any delay, the Company now believes that this requirement, when coupled with the forthcoming Christmas and New Year holidays, will push the completion of mine permitting into early 2020.
Commenting today Sunrise Executive Chairman Patrick Cheetham said: "Whilst any delay outside of our control is frustrating, all other aspects of the BLM permitting are now at an advanced stage and this delay is not expected to materially impact the Company's production planning. From this point forward we expect to be in a position to provide more regular updates on progress as we enter the final and public stages of mine permitting. In the meantime, the Company continues to progress discussions with likely offtake customers and continues to be encouraged by the growing interest in our pozzolan and perlite products."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Sunrise Resources plc
Patrick Cheetham, Executive Chairman
Tel: +44 (0)1625 838 884
Beaumont Cornish Limited
Nominated Adviser and Joint Broker
James Biddle/Roland Cornish
Tel: +44 (0)207 628 3396
Peterhouse Capital Limited
Lucy Williams/Duncan Vasey
Tel: +44 (0)207 469 0930
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely unduly on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.
Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com
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