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.
Sunrise had been discussing terms for a joint development of the CS Natural Pozzolan-Perlite Project in Nevada, US with the company. After the negotiation collapse, the company says it remains confident it will find a suitable partner and is now prioritising discussions with other potential partners for this project.
Chair Patrick Cheetham says: "We are frustrated that the cement and ready-mix company has been unable to fully commit to the project in any acceptable timeframe, despite the obvious pressures faced by cement and ready-mix companies to develop sustainable strategies to lower the embodied carbon contained in their concrete products."
Current stock price: 0.14, down 27% in London
12-month change: down 40%
By Heather Rydings; heatherrydings@alliancenews.com
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Sunrise Res (SRES)