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(Sharecast News) - Sunrise Resources announced on Wednesday that, following a progress review with its lead permitting consultant EM Strategies, there would be a delay to the completion of mine permitting for its CS Pozzolan-Perlite project in Nevada.
The AIM-traded firm said the delay was caused by the late introduction by the lead regulator, the US Bureau of Land Management (BLM), of some additional information reporting requirements for one of the company's supplemental environmental reports.
It said that, while the bureau had undertaken to work "expeditiously" to review the additional information to try and mitigate any delay, the company now believed that the requirement - when coupled with the upcoming Christmas and New Year holidays - would push the completion of mine permitting into early 2020.
"Whilst any delay outside of our control is frustrating, all other aspects of the Bureau of Land Management permitting are now at an advanced stage and this delay is not expected to materially impact the company's production planning," said executive chairman Patrick Cheetham.
"From this point forward we expect to be in a position to provide more regular updates on progress as we enter the final and public stages of mine permitting.
"In the meantime, the company continues to progress discussions with likely offtake customers and continues to be encouraged by the growing interest in our pozzolan and perlite products."
At 1500 GMT, shares in Sunrise Resources were down 0.87% at 0.11p.
5 Jun 2023 12:24
IN BRIEF: Sunrise expects GBP200,000 investment from US investor
Sunrise Resources PLC - Cheshire, England-based company focusing on the development of its three key Nevada based industrial mineral projects - Expects to receive a second investment in next week of GBP200,000 from Towards Net Zero LLC. Towards Net Zero is a US-based institutional investor focused on the green economy. This second convertible security will have a term of 24 months. It will not be subject to quarterly repayments.
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