Proactive Investors - Run By Investors For Investors

Sunrise Resources raises funds to support Nevada operations

"It is pleasing to see that the company has broad support for its strategic plan," Patrick Cheetham said.
cash
The cash is earmarked for the CS project

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.

View full SRES profile View Profile

Sunrise Resources Plc Timeline

Related Articles

A Ghana map showing its capital Accra
January 16 2019
A PFS found that the project in Ghana could generate US$1.4 billion free cash flow before tax.
Gold mine
November 19 2018
Gold had been intersected in all but one hole over a 12 hole drilling programme, with highlights including 25.9 g/t of Gold at 1-metre depth and 10.04 g/t of Gold at 3m depth
Breaking first ground at the HPA plant site
August 10 2018
Stage I construction at Johor site kicks off with a geotechnical drilling and ground survey program.

© Proactive Investors 2019

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