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Pin to quick picksSunrise Res Share News (SRES)

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TRADING UPDATES: Victoria Quarter Earnings Rise, Launches Tender Offer

Tue, 23rd Feb 2021 18:08

(Alliance News) - The following is a round-up of updates by global companies, issued on Tuesday and not separately reported by Alliance News:

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Victoria PLC - Worcestershire-headquartered flooring firm - Announces tender offer to purchase EUR50 million of senior secured notes due 2024. Also says it intends to offer EUR350 million in senior secured notes due 2026. Says it will use the new cash for general corporate purposes - particularly acquisitions - and the partial refinancing of existing 2024 senior secured notes to further improve the maturity profile of the group's debt. Additionally, highlights higher quarterly earnings with revenue for the third quarter to December-end up 16% year-on-year at around GBP184 million and earnings before interest, tax, depreciation, and amortization at GBP120.0 million.

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Sunrise Resources PLC- miner focused on operations in Nevada, US and Western Australia - Says a 500-ton sample of natural pozzolan has been delivered to a large cement and ready-mix company in the US. Adds results from a strength testing of mortar blocks made using a 20% substitution of ordinary Portland cement with natural pozzolan from the 500-ton bulk sample shows mortar strength "well in excess of the requirements of ASTM C618" after just seven days curing. Less positively, due to high demand for perlite, all potential customers are currently focussing on their own production and this has caused delays to Sunrise receiving test results of its own product. Separately, Sunrise says it is progressing with drilling plans at Bakers Gold project in Australia, noting the proposed drill programme will comprise five reverse circulation drill holes between 100 metres and 200 metres deep to test three separate gold targets which include old mine workings, areas of gold nugget production and a gold-in-soil geochemical anomaly.

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Serinus Energy PLC - oil company with operations in Romania and Tunisia - Notes flow test results of the Moftinu-1008 well in Romania show the 1,000 metre well flowing 4.0 million standard cubic feet per day, around 667 barrels of oil equivalent per day. Notes the well is now awaiting tie-in as the flowline connecting in to the Moftinu gas plant has been completed and requires final pressure testing.

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Bezant Resources PLC - copper-gold exploration and development company - Begins diamond drill testing at its Kalengwa exploration project area in Zambia. Notes the maiden 800 metre programme will test the first two priority exploration targets based on review of extensive historic exploration datasets. Says target Kalengwa SW2 shows strong magnetic and copper geochemical anomalies that straddle the major Kalengwa Lineament structure 2.5 kilometres southwest from a former mine and target Minemba is located on a structural "mirror image" of the Kalengwa mine setting just 4 kilometres distant, with a coincident copper geochemical anomaly. Says it has signed a drill contract and a rig will be mobilised soon.

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Greatland Gold PLC - precious and base metals exploration and development in Western Australia and Tasmania - Says initial 2021 work programme for the Juri gold-copper joint venture with Australia-based Newcrest Mining Ltd includes drilling of several targets within the Paterson Range East and Black Hills licences. Adds it has identified multiple additional targets within the Juri JV following analysis of results of a airborne electromagnetic survey and further geological interpretation of regional aeromagnetics. Notes exploration work at the Juri JV is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

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United Oil & Gas PLC - oil and gas explorer - Says preliminary results form its ASH-3 development well at the Abu Sennan project in Egypt show a maximum rate of 7,720 barrels oil equivalent per day, comprising 6,379 barrels of oil per day and 6.7 million cubic feet per day from the Alam El Bueib reservoir during well-testing

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Red Rock Resources PLC- gold explorer in Kenya and Australia, copper-cobalt in DRC - Says mineral resource estimate at Mikei Gold Project in Kenya is 15.13 million tonnes at 1.49 grams per tonne of gold, with contained metal content of 723,000 ounces of gold. "We now have the opportunity to build on this solid base and it is our belief that the potential for expansion at and around Mikei is strong," says Chair Andrew Bell.

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Golden Rock Global PLC - special purpose acquisition company eyeing buy in fintech sector - Raises GBP200,000 through the subscription for 3.2 million shares at GBP0.0625 each and will use the capital for "much-needed" additional working capital which will extend the period during which it is able to continue to seek an acquisition. Separately, says non-executive directors Feng Chen and Bin Shi resign effective immediately, but does not give the reason why.

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By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
12 Oct 2022 12:39

Sunrise Resources enters pozzolan testing arrangement

(Sharecast News) - Sunrise Resources announced the start of a collaborative arrangement with an existing processor of natural pozzolan for mining and test grinding of a bulk sample of its Hazen natural pozzolan deposit in northern Nevada on Wednesday.

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2 Sep 2022 09:47

Sunrise Resources shares up on USD1.3 million purchase option

(Alliance News) - Sunrise Resources PLC on Friday reported it granted Tolsa USA Inc a USD1.3 million purchase option for the Pioche Sepiolite project in the US state of Nevada.

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12 Jul 2022 16:02

IN BRIEF: Sunrise Resources shares fall on GBP100,000 placing

Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Raises GBP100,000 through a conditional placing of 100 million shares at a price of 0.1 pence per share. The placing was arranged through the company's broker, Peterhouse Capital Ltd, who also agreed to settle its 5% placing commission and broker fees for the quarter ended September 30. Funds will be used towards the company's general working capital.

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28 Jun 2022 15:58

IN BRIEF: Sunrise Resources grants purchase option for Pioche project

Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Grants the US subsidiary of Spanish sepiolite producer Tolsa SA an exclusive 6-month option to purchase its wholly-owned Pioche Sopiolite project in Nevada, US. Purchase option payable for USD1.3 million in cash. Tolsa may also extend the option for a further 12 months on the payment of USD50,000. Sunrise would retain 3% net revenue royalty for a 25-year period from the start of commercial production at the site. An advance royalty of USD50,000 per year will be paid if production is not started within 5 years.

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27 Jun 2022 21:51

TRADING UPDATES: Anglo-Eastern Plantations sees palm oil prices rise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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24 May 2022 18:09

EARNINGS UPDATES: Topps Tiles in record revenue; Lords doubles profit

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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19 May 2022 18:55

TRADING UPDATES: Knights tips revenue hike; Gym Group eyes growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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11 May 2022 13:55

IN BRIEF: Sunrise Resources applies for approval of natural pozzolan

Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Applies for approval of natural pozzolan for use in California state infrastructure projects. The California Department of Transport, known as Caltrans, is responsible for the award. "Caltrans has long recognised the potential for the fly ash shortages we see today in the western US," Sunrise says. The firm adds that natural pozzolans have the "greatest single potential supply volume," to fill a supply shortfall.

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11 May 2022 12:47

Sunrise seeks approval for pozzolan on California transport projects

(Sharecast News) - Sunrise Resources said on Wednesday that it has applied to the California Department of Transport (Caltrans) for conditional approval of CS natural pozzolan for use in infrastructure projects in the state.

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4 May 2022 13:10

Sunrise reports positive industry interest in pozzolan project

(Sharecast News) - Sunrise Resources updated the market on its CS Natural Pozzolan-Perlite Project on Wednesday, following its chairman's recent visit to the United States, reporting that meetings had been held with multiple parties, including existing and new interested parties.

Read more
4 May 2022 12:29

IN BRIEF: Sunrise Resources shares rise as project discussions continue

Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Says it identified and started discussions with new parties interested in joint development of the CS Natural Pozzolan-Perlite project in Nevada, US. Says discussions continue and that the chair's recent trip to the US enabled these to be advanced and site visits to be undertaken with "certain parties". Continues to find and reach out to other potentially interested parties. Confident a partner will be found soon.

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8 Mar 2022 14:33

IN BRIEF: Sunrise Resources falls after terminating JV negotiations

Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Terminates further negotiations with an unnamed cement and ready-mix company as the discussion have "failed to reach a satisfactory conclusion" in regards to a joint-venture project.

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8 Mar 2022 11:11

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