t
Sunrise Resources plc received an option extension fee of US$100,000 from Tolsa USA, Inc. This extended Tolsa's option to purchase the Company's Pioche Sepiolite Project for US$1.4 million until 28 December 2024, with Sunrise retaining a 3% ad valorem royalty on future production if the option is exercised.
| Date | 18 Jan 2024 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 0719A |
18 January 2024
SUNRISE RESOURCES PLC
("Sunrise" or the "Company")
Pioche Sepiolite Project
Further to its announcement of 27 December 2023, Sunrise Resources plc wishes to advise that the option extension fee of US$100,000 has been received from Tolsa USA, Inc. ("Tolsa") and Tolsa's option to purchase the Company's Pioche Sepiolite Project for the increased amount of US$1.4 million is therefore extended to 28 December 2024.
In the event that the purchase option is exercised by Tolsa, the Company will retain a 3% ad velorem royalty on future production of sepiolite.
Further information:
|
Sunrise Resources plc Patrick Cheetham, Executive Chairman |
Tel: +44 (0)1625 838 884 |
|
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish |
Tel: +44 (0)207 628 3396 |
|
Peterhouse Capital Limited Broker Lucy Williams/Duncan Vasey
|
Tel: +44 (0)207 469 0930
|
Shares in the Company trade on AIM. EPIC: "SRES".
Website: www.sunriseresourcesplc.com