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viewSunrise Resources PLC

Sunrise Resources makes good progress towards production at CS

Snapshot

  • Sunrise Resource owns the CS pozzolan and perlite project in Nevada
  • Pozzolan is a more environmentally cement substitute, while plant growers use perlite
  • Company expects a mining permit for CS to be issued by end of this year
plant

Quick facts: Sunrise Resources PLC

Price: 0.115 GBX

AIM:SRES
Market: AIM
Market Cap: £3.58 m
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What it owns

CS Project, Nevada: The Plan of Operations envisages a 27-year mine life where both perlite and natural pozzolan are mined from the Main Zone in years 1-15 with pozzolan continuing to be mined in the Tuff Zone in years 16-27.

NewPerl, Nevada: The NewPerl Prospect comprises a conical outcrop of glassy volcanic rock having a base diameter of approximately 400m and a height of up to 45m above the surrounding plain.

Two key targets have now been identified for follow up where samples have shown excellent expandability results for horticultural grades of perlite.

Jackson Wash, Nevada: 16km away from NewPerl, this was originally part of that project but for permitting reasons is now separate.

 

 

What it does

"Natural pozzolans are experiencing a resurgence in demand based on their strong “green” credentials.

"Today, pozzolans are used as a direct additive to concrete mixes and as a partial replacement for cement in amounts of up to 35% of the cementing material

"Perlite is a glassy raw material which, when heated in a furnace, pops like popcorn and expands by up to 20 times in volume into a white or pale coloured, low-density material.

"Expanded perlite is used in various industrial and household applications such as insulation, paint texturing, building materials, filter aids, insulating industrial cryogenic storage vessels and as a potting medium in gardening and horticulture to aid water retention and aeration of the soil."

 

 

How is it doing

In November, Sunrise Resources PLC (LON:SRES)  raised £350,000 through a conditional placing, with the funds being used to complete mine permitting, further sampling and customer trials, work preparatory to mine start-up and for general working capital purposes.

In September, the company said the environmental assessment at CS was nearly complete including a new requirement for a hydrological baseline study.

Interest in its perlite is so strong that Sunrise intends to process a 100-ton bulk sample currently on-site to provide additional samples of crushed and screened horticultural grade raw perlite.

 

What the boss says: Patrick Cheetham, executive chairman

 

 

 

Inflexion points

  • Award of mining permit at CS
  • Offtake agreements or substantial orders for perlite and pozzolan
  • First production begins

 

 

Blue Sky

 “The latest United States Geological Survey commodity summary shows a growing market for perlite with a 12% annual rise in US consumption in 2018 and a 22% rise over 2015, driven in part by increased use of perlite in the expanding cannabis market in North America."

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Watch

Sunrise Resources' Patrick Cheetham details permitting developments at CS...

Sunrise Resources PLC's (LON:SRES) Patrick Cheetham tells Proactive London's Andrew Scott he believes they're on track to be fully permitted later in the fourth quarter of this year for their CS Pozzolan-Perlite project in Nevada, USA. Sunrise has told investors that following a meeting...

on 1/8/19

3 min read