LONDON (Alliance News) - Sunrise Resources PLC on Thursday said it has raised GBP300,000 to back its US precious metals projects.
Sunrise will issue 250.0 million shares at 0.12 pence per share to raise the funds via a placing and subscription. Sunrise shares were up 30% at 0.19 pence on Thursday, one of the best performers in the AIM All-Share.
Roger Murphy, a non-executive director of Sunrise, will invest GBP20,000 in the placing.
The proceeds will be used for the company's precious metals projects in Nevada in the US.
"Sunrise holds a strong portfolio of precious metal and industrial mineral projects. The funds raised will enable us to accelerate our activities within our strategic Nevada interests and we look to reporting further progress on these projects in the near future," said Executive Chairman Patrick Cheetham.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Sunrise Res (SRES)