Business
Sunshine Minerals Update
Sunshine Minerals Update.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 4756V Gunsynd PLC 23 July 2018 \n\nGunsynd plc\n(\"Gunsynd\" or the \"Company\")\nUpdate on Sunshine Minerals\nGunsynd Plc (AIM: GUN, NEX: GUN) announces an update regarding its investee company, Sunshine Minerals (\"Sunshine\"). Gunsynd has been informed by the management of Sunshine that the Mines and Minerals Board of the Solomon Islands has issued a Prospecting Licence (\"PL\") to Sunshine Nickel ltd (an 80% owned subsidiary of Sunshine) over the Jejevo tenement.\nGunsynd has a 10% investment in Sunshine and a convertible loan note which, if converted, would equate to Gunsynd holding a combined total of 20% of Sunshine's issued share capital.\nAbout Jejevo\nJejevo has a relatively long exploration history. Most notably, Sumitomo undertook a considerable amount of work including over 500 drill holes, culminating in an in-house resource estimate of 14Mt at 1.19% Nickel, but also extending to a full ESIA report in 2014.\nHamish Harris, Executive Chairman, commented:\n\"We are extremely pleased with this news. We look forward to working closely with Sunshine to progressing towards a mining licence as soon as possible. The great advantage of this nickel deposit is the previous work done which should expedite the process. \"\nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\nThe directors of Gunsynd accept responsibility for this announcement.\nFor further information please contact:\n\n\n\nGunsynd plc\nHamish Harris\n\n\n \n+44 20 7440 0640\n\n\n\n\n \nCairn Financial Advisers LLP\nJames Caithie / Liam Murray\n\n\n \n+44 20 7213 0880\n\n\n\n\n \nPeterhouse Corporate Finance\nLucy Williams\n\n\n \n+44 20 7469 0930\n \n\n\n\n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END MSCLXLFLVDFLBBE\n ","length":3819,"tagName":"div"}]