Sunrise Resources (LON:SRES) – CORP: FY16 results
Market Cap: £1.6m; Current Price: 0.145p
From yesterday: LBT widens in FY16 as Sunrise expands its portfolio
LBT increased to £369,587 in FY16 from £301,271 in FY15, due to an increase in pre-licence exploration costs, impairments and administrative expenses.
Net cash totalled £51,142 in FY16 up from £4,397 in FY15.
NORTHLAND CAPITAL PARTNERS VIEW: During FY16 Sunrise Resources focused its efforts in the US with a Phase 2 drill programme at the Bay State Silver Project, trenching at the Garfield Copper-Gold Project and the signing of a lease agreement with EP Minerals on the County Line Diatomite Project. Sunrise also staked three new projects; Clayton Project, Stonewall Project and Newark Project; and expanded the Pozz Project with the CS deposit.