Business
Half-Yearly Report
Half-Yearly Report.
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9303Y Sunrise Resources Plc 23 May 2016 \n\n23 May 2016\n \nSUNRISE RESOURCES PLC\n(the \"Company\")\n \nHALF-YEARLY REPORT\n \nSunrise Resources plc, the AIM-traded diversified mineral exploration and development company, announces its unaudited interim results for the six months ended 31 March 2016.\n \nOperational Highlights \n \n· County Line Diatomite Project, Nevada, USA:\no Lease agreement with EP Minerals, LLC, a world leading producer of diatomite.\no Potential for revenue based royalty stream starting in 2017 - at no further cost or risk to\n Company.\n \n \n· Bay State Silver Project, Nevada, USA:\no Bonanza silver grades from underground sampling.\no High-grade silver mineralisation intersected in first three drill holes.\n \n· New subsidiary company formed - Westgold Inc. \no Generator model will focus on precious metal projects in western USA.\no First two project areas staked - Clayton & Newark.\n \nResults Summary\n \n· Group loss for the six month period of £149,534 (six months to 31 March 2015: £151,540) comprising: \n \no Interest income of £179; less \no Administration costs of £142,453; and \n \no Uncapitalised exploration costs totalling £7,260.\n \nFunding\n \n· There was no fundraising during the reporting period.\n· Shares to the value of £9,176 were issued to directors at a price of 0.16p in settlement of fees on 18 February 2016 and shares to the value of £86,272 were issued at a price of 0.175p to Tertiary Minerals plc in settlement of invoices issued for management and services fees on 7 March 2016.\n \n· A total of £120,000 (before expenses) was raised on 4 April 2016 through the issue of 109,090,908 new ordinary shares by way of a placing and subscription. \n \n\n\n \n \nFurther information:\n \n \n\n\n\n\nSunrise Resources plc\nPatrick Cheetham, Executive Chairman \n \nNorthland Capital Partners Limited\nNominated Adviser & Broker\nEdward Hutton/David Hignell\nBroking\nJohn Howes/Rob Rees\n \nBeaufort Secu...