SUNRISE RESOURCES PLC
(the "Company")
3 June 2019
REPORT ON NPA SYMPOSIUM
Further to our announcement on 17 May 2019, the Company would like to report on the inaugural meeting of the Natural Pozzolan Association ("NPA") held in Arizona, USA on May 16 and 17, 2019. The Company is a member of the NPA and was invited to give a presentation on the Company's CS Project in Nevada1.
The meeting was very well attended with over 70 delegates, mainly from the USA, but with several other countries also represented. A number of large multi-national cement and concrete producers and fly ash distribution companies were represented including some already engaged in joint testwork programmes and marketing/off-take discussions with the Company.
Our presentation was very well received, and it was clear from the level of interest, and intense question & answer sessions that there is much concern for the future supply of fly ash from coal-fired generating stations. These supplies are falling at a rate that is faster than many within the industry expected due to the accelerating closure of coal-fired power stations across the USA. This is being driven by pollution considerations, the lower cost of power generation from natural gas and a sharp fall in the price of renewable energy2.
The rate of decline in the supply of fly ash represents a significant threat to the concrete companies that have come to rely on a ready supply of fly ash. These concrete and ready-mix companies are seeking alternative replacements for fly ash and looking to secure supplies of natural pozzolan, a cost-effective replacement for fly ash providing the same added benefits; making the concrete stronger, less susceptible to cracking, and environmentally "greener".
The county-wide closure of coal-fired power stations is not restricted to the USA. France is set to phase out all its coal-fired power stations by 2021, Sweden by 2022, Britain, Ireland and Austria by 2025, Portugal and Denmark by 2030, and Germany by 2028.
Commenting today, the Chairman, Mr. Patrick Cheetham, said; "The NPA meeting and the Company's presentation have created an increased level of awareness and interest in our CS Project for natural pozzolan which we are now following up alongside our several ongoing marketing discussions. Moreover, the meeting has reinforced our belief that that the closure of coal-fired power stations and the resulting shortage of fly ash will be a "black swan event" within the industry that will see the continuing resurgence of natural pozzolan as a major component in concrete. We are well set to participate in this resurgence in a part of the US that is particularly badly affected and to pursue this scalable business opportunity in future on a wider basis."
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 |
SVS Securities Plc Broker Tom Curran/Ben Tadd |
Tel: +44 (0)203 700 0093 |
Notes
1. To view a copy of the Company's presentation to the NPA Symposium (as announced on 17 May 2019) see:
https://www.sunriseresourcesplc.com/presentations
2. For further information on the falling costs of renewables see Report: International
Energy Agency (IRENA), Renewable Power Generation Costs in 2018.
https://www.irena.org/publications/2019/May/Renewable-power-generation-costs-in-2018
3. The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.
4. The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and a member of the Australasian Institute of Mining & Metallurgy.
Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).
