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10 stories mentioning ASX:SHNUpdated 15d ago

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Asia

Sunshine Metals Upgrades Mineral Resource Estimate for Queensland Project

Sunshine Metals (ASX:SHN) said the upgraded mineral resource estimate for the Liontown project in Queensland was upgraded to 7.3 million tonnes at 3.19 grams per tonnes (g/t) grade of gold equivalent for 745,000 ounces of recoverable gold equivalent, according to a Wednesday Australian bourse filing.The upgrade came after recent grade control drilling and metallurgical results, the company said. Liontown now contains 86% of the tonnes in the total Ravenswood VMS resource, and gold accounts for 35% of the contained metal value at Liontown.The gold-dominant portion of the Liontown resource increased by 13% contained gold, 21% contained silver, and 28% in overall tonnes, the company said, adding that 75% of this resource is now in the measured or indicated classification.

ASX:SHN
Asia

Sunshine Metals Completes Acquisition of Mt Moss Operation in Queensland

Sunshine Metals (ASX:SHN) completed its acquisition of the Mt Moss operation in north Queensland for AU$18 million in cash, including AU$8 million paid upfront and AU$10 million in deferred consideration, according to a Thursday filing with the Australian bourse.The company said engineering and design work for a Mt Moss restart is advancing, with a plant design scheduled for completion in August.Advanced project financing discussions are also underway to fund construction, with plant refurbishment, construction, and permitting remain on track to support first gold processing from the Liontown site in mid-2027, Sunshine Metals said.Meanwhile, preparations for drilling at the Sybil gold project are almost complete ahead of a planned drilling start this month.

ASX:SHN
Asia

Sunshine Metals Starts Magnetic, Radiometric Survey at Queensland Project; Shares Down 3%

Sunshine Metals (ASX:SHN) started a helicopter-borne magnetic and radiometric survey at its Sybil project in Queensland, according to a Tuesday filing with the Australian bourse.The survey will cover priority prospect areas, including Francis Creek, Francis Creek East, Blue Range, and Quartz Ridge, the filing said.The survey will aid in defining the project's stratigraphic and structural architecture and forms part of the company's broader exploration and development activities across the Ravenswood Consolidated Project, per the filing.Shares fell past 3% in midday trade Tuesday.

ASX:SHN
Asia

EQ Resources to Acquire Queensland Project From Sunshine Metals; Shares Down 4%

EQ Resources (ASX:EQR) agreed to acquire the Hodgkinson project in Queensland from Sunshine Metals (ASX:SHN) for AU$250,000, according to a Tuesday filing with the Australian bourse.Consideration includes AU$100,000 cash payable to Sunshine Metals on the sale and purchase agreement execution, and AU$150,000 cash payable on completion, the filing said.The company will hold a 100% interest in the six project tenements upon completion, which is expected in or before August, per the filing.EQ Resources shares fell 4% in morning trade on Tuesday, while Sunshine Metals shares were down 6%.

ASX:EQRASX:SHN
Asia

Sunshine Metals Raises Nearly AU$8 Million in Oversubscribed Share Purchase Plan

Sunshine Metals' (ASX:SHN) share purchase plan received total applications amounting to nearly AU$7.7 million, exceeding its AU$3 million target, according to a Thursday filing with the Australian bourse.The board elected not to scale back participation and will issue almost 285 million new shares to all eligible applicants, expected to be completed on Thursday, the filing said.Proceeds from the share purchase plan and recent AU$19 million placement will fund the upfront consideration for the Mt Moss acquisition, along with the Liontown mine start-up in Queensland, exploration and resource development, and working capital, per the filing.

ASX:SHN
Asia

Lion Selection Group Boosts Stake in Sunshine to 10% in April Quarter, Shares Jump 4%

Lion Selection Group (ASX:LSX) said it now holds a 10.1% stake in Sunshine Metals (ASX:SHN) after investing AU$3 million in the quarter ended April 30 as part of a AU$22 million fundraising at A$0.027 per share, according to a Thursday Australian bourse filing.Lion now has a 41% interest in Plutonic, with AU$1.6 million committed as part of a AU$4 million entitlement issue at AU$0.12 per share. It also divested its stake in Great Boulder Resources (ASX:GBR) for AU$2.4 million in the period.It said its Australia-focused investments of AU$53.9 million have created a value of AU$104.1 million, including the value of portfolio holdings and realized gains, as of April 30, providing an investment return to-date of 93%. It added that its portfolio contains 11 Australian-focused opportunities.Its shares rose 4% in recent trading on Thursday.

ASX:GBRASX:LSXASX:SHN
Asia

Sunshine Metals Identifies High-Grade Gold at Queensland Project, Shares Up 10%

Sunshine Metals (ASX:SHN) received final assays from resource definition drilling at Liontown, part of its Ravenswood Consolidated project in North Queensland, Australia, according to a Wednesday Australian bourse filing.The results were up to 22 meters at 20.25 grams per tonne grade of gold from 69 meters, including eight meters at 39.58 g/t gold from 68 meters and four meters at 29.45 g/t gold from 81 meters.The company said it will incorporate all the latest assays in an updated Liontown resource due in June, with the updated resource and additional metallurgical data to form the basis for a revised Liontown Mining Study commencing the same month.A share purchase plan open until May 22 aims to raise up to AU$3 million as part of a AU$22 million capital raising to support the Mt Moss Operations acquisition and advance plans for gold production in 2027, the filing added.The company's shares rose 10% in recent Wednesday trade.

ASX:SHN
Wire

Sunshine Metals Says Lion Selection Boosts Stake in Firm

Sunshine Metals (ASX:SHN) said Lion Selection Group (ASX:LSX) boosted its voting power in the company to 10.6% on May 8 from 9.2% previously, according to a Monday Australian bourse filing.Lion Selection now holds 341.1 million shares in Sunshine.Lion Selection Group's shares were up 1% in recent Monday trade.

ASX:LSXASX:SHN
Asia

Sunshine Metals Completes Resource Definition Drilling at Queensland Gold-Dominant Deposit

Sunshine Metals (ASX:SHN) completed resource definition drilling at the Liontown gold panel, a gold-dominant deposit which is part of its Ravenswood consolidated project in Queensland, in late March, according to a Monday Australian bourse filing.The mining study and mineral resource for the Liontown project will be further updated and upgraded in May to incorporate results from the grade control drilling program.

ASX:SHN
Asia

Sunshine Metals Says Grade Control Drilling at Proposed Open Pit at Queensland Project Returns Shallow, High-Grade Results; Shares Jump 10%

Sunshine Metals (ASX:SHN) said the grade control drilling program within the proposed Liontown open pit, part of its Ravenswood consolidated project in Queensland, returned shallow, high-grade results, according to a Monday Australian bourse filing.The company encountered intercepts of 7 meters at 5.9 grams per tonne (g/t) grade of gold from surface and 3 meters at 25 g/t grade of gold from 14 meters.It also hit an intercept of 14 meters at 12.4 g/t grade of gold from 79 meters during resource drilling at the Liontown Au Panel, a gold-dominant deposit to form part of the proposed underground mine within the recent mining study.An updated Liontown resource is due in the June quarter, per the filing.Sunshine Metals shares jumped 10% in recent trading on Monday.

ASX:SHN

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