Sunrise Resources PLC (AIM:SRES) said commercial discussions with an unnamed cement manufacturer and ready-mix concrete company (CRMC) have progressed and that they are in favour of jointly developing Sunrise’s CS pozzolan-perlite project in the US.
Detailed financial terms are being discussed, said the AIM-traded company.
Sunrise has been working with the CRMC on commercial scale tests using natural pozzolan from the Nevada-based CS project and reported positive results in August.
A second major building materials producer has also been testing its materials during this year although discussions are at an earlier stage, Sunrise said as it reported its financial results for the year to end September.
The group, which has no revenue as yet, saw its annual losses widen to £335,252, from £302,902 the previous year, and had £371,740 in cash at year end.