Rare earths & specialist minerals
Sunrise Resources continues to make progress permitting the CS Pozzolan-Perlite project
Sunrise has plenty of experience of operating in Nevada
Company
LON:SRES
Sunrise Resources PLC aims to develop profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and unlock the value inherent in its diverse portfolio of industrial minerals, precious metals and base metal projects.
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Rare earths & specialist minerals
Sunrise has plenty of experience of operating in Nevada
Rare earths & specialist minerals
It is the second of two key permits needed for mine development
Rare earths & specialist minerals
"This positive mine permit decision comes after 2½ years of mine planning, environmental studies and reporting," said chairman Patrick Cheetham
Rare earths & specialist minerals
Sunrise is set to turn its CS pozzolan-perlite project to good account
Rare earths & specialist minerals
The period for public comments closed on 22 June, with only three comments received, all from federal and state agency comments and all able to be addressed by minor edits
Rare earths & specialist minerals
“Our commitment to bringing the CS Project into profitable production remains our priority and this will be the focus of our efforts over the coming months.”
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Rare earths & specialist minerals
"We are delighted to have reached this final stage in the permitting process," said executive chairman Patrick Cheetham
Rare earths & specialist minerals
Sunrise Resources is developing a diverse portfolio of industrial minerals
Rare earths & specialist minerals
For the year ended 30 September, the firm reported a loss of £301,738, lower than the £786,672 figure in the prior year
Rare earths & specialist minerals
The company said its joint broker, Peterhouse Capital has conditionally placed 181,818,182 new ordinary shares at a price of 0.11p each
Rare earths & specialist minerals
The initial lease period is for five years but can be extended
Rare earths & specialist minerals
"Whilst any delay outside of our control is frustrating, all other aspects of the BLM permitting are now at an advanced stage and this delay is not expected to materially impact the company's production planning.”
The AIM-listed miner issued 350,000,000 new ordinary shares at a price of 0.1p each
The plant, which was mothballed in the 1980s, is located 15 miles from the CS project in Nevada
“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
"This should allow us to get into production quite quickly once permitting is completed later this year."
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