With many strings to its bow, Sunrise Resources is so much more than the CS project in Nevada
“…Most of the major shareholders are in this for the long term and can see the value in the company…”
With the many issues that Covid has created, business has seen agreements redefined, timelines extended, continuity interrupted and patience tested, and there comes a point when a line is drawn to get projects back on track.
That’s what Sunrise Resources did when it gave an ultimatum to a large cement and ready-mix company about a joint development of Sunrise’s CS Natural Pozzolan-Perlite Project in Nevada. Among the company’s many projects, this one had the potential to elevate Sunrise to self-funding status, but needed a proactive partnership to expedite production.
In March, Sunrise announced it had terminated negotiations regarding ‘detailed terms’ and was now prioritising “ongoing discussions with other potential partners for the CS Project.” This forward looking element of the investor update was ignored by the market which punished the stock with a double digit drop.
As a major shareholder, Executive chairman Patrick Cheetham feels the pain acutely, but says extraction of sorts did occur in the form of data and positive test work that can feed into and facilitate current talks with other interested parties. “The value is still there,” says Cheetham. “The project is still fully permitted and ready to mine.”
In this podcast with Sarah Lowther, Patrick reminds investors about the portfolio value accretion strategy which has seen Sunrise projects farmed out, licensed and generate royalties. He discusses sepiolite, and why major shareholders are in the company for the long term.
Watch Patrick talk to Proactive London’s Katie Pilbeam about the market opportunities in the pozzolan sector, as well as the results from commercial concrete pours using natural pozzolan from its CS pozzolan-perlite deposit.
Listen to Patrick give a video tour along the Chihuahua Adit of the Bay State Silver Mine in Nevada, currently being explored by Sunrise.
Read our in-depth article about the company and its multi-stringed strategy
Access Sunrise’s AGM presentation here
Follow the company on Twitter @sunriseplc
The author was remunerated but does not hold shares in the company
