Diversified minerals explorer Sunrise Resources Plc (LON:SRES) has raised £250,000 through a placing to advance its various project in Nevada, USA.
Sunrise has two industrial minerals projects, including its CS pozzolan deposit, and a handful of precious and base metal prospects in the mining hotspot.
The company issued 250mln new shares at a price of 1p each; slightly below yesterday’s close of 0.12p.
“This funding will allow us to advance the CS project where excellent results were reported last week and where the concept study currently in progress is expected to provide a road map for commercialisation of the project,” said chief executive Patrick Cheetham.
“It will also provide the opportunity to rationalise our project portfolio, focusing on our US assets where we are well positioned to take advantage of the upswing in investor interest in the resource sector.
“The industrial mineral sector in particular is expected to be a major beneficiary of the Trump Administration's infrastructure development drive,” Cheetham added.
Shares fell 0.01p to 0.11p.