Member Info for Dubliner

To add to my last, I just noted that if I click the down arrow more info is given - as I say sorry if posted previously;

MINE PERMIT IS GRANTED

“This positive mine permit decision comes after 2-1/2 years of mine planning, environmental studies and reporting,” said Sunrise Executive Chairman Patrick Cheetham. “We can now move forward with the staged development of mining and mineral processing operations at the CS Project. This is required to secure offtake agreements and the grant of the mining permit will be a major catalyst in this process. The mine permit comes at a propitious time as cement industry demand is growing for natural pozzolan as a fly ash replacement and the horticultural demand for perlite is increasing with the rising cultivation of medicinal marijuana. We believe that this is a major value-adding milestone for the Company and puts the project firmly on the map as one of just a few permitted deposits of perlite and high quality natural pozzolan in the US.”

The CS Project is located approximately 24 miles northwest of Tonopah, in Esmeralda County, Nevada, USA and is held by the Company’s 100% owned subsidiary SR Minerals Inc. (SRM).

The BLM’s Environmental Assessment (EA) for the CS Project is now final. The BLM, having now evaluated the EA, has handed down a Finding of No Significant Impact (FONSI) for the Company’s Mine Plan of Operations and accordingly determined that an Environmental Impact Statement is not required per Section 102(2) (c) of the National Environmental Policy Act. The FONSI recognizes the positive contributions that the use of natural pozzolan can make to a reduction in CO2 emissions in the US as a replacement in the cement industry for the fly ash from coal-fired power stations.

FThe BLM has also issued its Decision Record approving and authorising the Company’s Mine Plan of Operations. This now allows the Company to develop the CS Mine according to that plan and in compliance with the various environmental mitigation measures and best practice measures proposed by the Company in its various submissions to the BLM. The BLM authorised Mine Plan of Operations covers the production of 1,656,000 tons of perlite and 14,523,000 tons of natural pozzolan over a 27-year period.

CONTACT: Patrick Cheetham, +44 (0)1625 838 884

MORE INFORMATION: www.sunriseresourcesplc.com

Nice to see the positivity around today...
Sorry if posted previously but the NPA references us having received our mining permit;

https://pozzolan.org/events.html

Hard to get too excited at the rise when dummy sells go NT...
Wonder if some of the rise is result of sister Company TYM getting pushed.
Seems to me at least that Alan Green (see Brand Communications and Vox Markets) has been hired to 'raise the visibility' of TYM and he has been banging the drum for a while now and finally getting a bit of traction. Could do with some similar focus over here!

I tried to kick off a discussion on the weekend regarding whether folks thought a sale of the Company (takeover) or just of the CS project or a Joint Venture was an option. There is I guess the possibility that PC can raise money some other way to fund CS in the event of a JV or us continuing with the project.

I can't help feeling that Patrick must have whatever deal he prefers tied up as we have commenced work on our other projects starting at Clayton and also have plans to pursue drilling for Bakers and Newark. Plus we now have Sundance as a new project.
Those following TYM will note of yet another new Nevada project (Copper) announced today so PC is definitely focusing his effort and finances on precious metal (PM) projects for both SRES and TYM.

You have to wonder how much of Patrick's time can be spent progressing CS in parallel with these other PM projects. Maybe an option for CS is a JV where we get a nice lump payment up front and then regular revenue with the other party also paying for the mine setup and progressing the project on a day to day basis.

Whatever the path is my main hope is the Market likes the deal and the SP increases a decent amount!

I did a post when we had the recent full year results - in fact it was over 2 separate posts so just check my posting history if you want to see all the details. Part of my 2nd post covered warrants issues in the year and these were based on the placings plus PC himself was awarded a bunch of warrants as part of an incentive plan. So basically this is just Peterhouse Capital exercising warrants from one of the placings - nothing to get excited about but we have a bit more money in the kitty.

>Extract from my post<
No warrants were exercised during the year ending 30th Sept 2020. However a number of Warrants were issued this year – 74.4M to be precise as per pages 40 and 41
Of these 39.4M allocated to Peterhouse Capital who did the 3 placings. So in addition to taking a fee (I believe 5% of placing value) they get warrants which have a 12 month expiry and based on the placing price. I am in the wrong job!

Warrants for the first two of these three placings are comfortably ‘in the money’ and no doubt the next annual results will advise of them being exercised. It seems likely to me that Peterhouse will have been selling the shares they got through the warrants (Brokers don’t tend to keep them) and ‘perhaps’ the sales of 8M shares on 10th Dec at below bid is an example of one of these sales?

As it is the weekend kicking off a discussion under a new thread title but following on from this post yesterday by SGD27;

According to the Final Results (11 Dec RNS)
"We are currently undertaking further mine engineering and financial studies to better define the start-up costs and based on feedback from the potential customers we should be in a position to provide financial projections in due course."
but I suspect the project may be sold before we get to see any of that.

>My thoughts<
Before PC can do the financial projections he needs to know which customers are willing to commit to off-take for both Pozz and Perlite. Forgetting mine build for a moment, if you consider CS 'running costs' based on contract mining then the more 'Product' the contractor processes the better efficiencies in terms of cost per ton. At a simple level if we only had one or two Perlite customers for say a total 10K tons per annum then the rental costs for generators / crushers / screeners (plus digging costs) will be relatively high per ton and perhaps not even commercially viable.

Alternatively, if we can do the ‘initial’ amounts PC previously suggested; 25-40K tons p/a for Perlite and 100K tons p/a for Pozz we start to get decent economies of scale. It suggests therefore that PC awaits the CRMC to advise on their current trial and if they want our product and then he can do the number crunching based on all the demand. I would hope we get to hear the ‘outcomes’ soon and my guess in Feb or March as other posters have suggested.

So we have the perennial debate about what PC would ideally do with the Project given choices (Company sold, CS sold, JV etc). My thought is that we will do a JV on CS and probably with the CRMC that are currently testing the 500-ton Pozz sample. Like some here I can take a guess on who that might be and, if it they are part of a much larger group so ought to be plenty of Pozz demand there! My one query is how the Perlite fits into a CRMC JV scenario.

One final thought. For the recent Project update did anyone else read the update for Perlite and conclude it suggests certain things (anyone join any dots?).

To SGD27, would be most interested for more on why you think there might be a sale of the CS project, who might be a prospective buyer, what would you consider a fair price now we have the mining permit?!

It is the weekend and this is just chitchat so if anyone has thoughts on this subject be interested to hear them, if not just ignore.

Have a good weekend anyway

I see we had couple of holdings RNSs today.
Pembar Ltd down 1% approx and Sebben Investments up 1%
Belgian beers sounds good but off the booze until Valentines....

Thanks DJF, hope this does well for all investors...

Hi Ftsefan, hope Steve17 won't mind me replying.

There are 2 excellent interviews Paul has done with Ian Strafford-Taylor.
You will need to access the Vox Markets website and then click on the 'Vox Markets Video' link top right of the homepage.
Scroll down and you will find 2 longish interviews that Paul has done, one on 1st Oct 2020 and one one 2nd Dec 2020
Both interviews are excellent (respect to Paul) and I forgive him for calling yer man Stafford-Taylor in one rather than Strafford!!
I have invested based on the info in these interviews and done my own research.
Nice to see djframboise here as know that poster from another share we are invested in.

Hope it helps.

Nice post SGD and good to see SRES getting a mention. I wonder if our Jane is aware of the SRES bulletin board and perhaps posts or at least watches. Jane, if you are a lurker here come and join the discussion as seems you do thorough research. Be good if SRES helped you forget about ASOS and who knew what the acronym meant (As Seen On Screen!) eh..

Yep nice to know things are progressing. My guess is several more new potential Perlite customers so we really should be getting the big news for both Pozz and Perl in coming weeks.

Revisiting a previous Clayton RNS I admit I have in my mind been thinking of Clayton as just silver (doh!) and in fact an historic drill had 0.5g/t gold. If our new hole can repeat those old numbers it ought to be commercial depending on scale. Promising that Patrick seems to be excited in anticipation of the assays for Clayton.
GLA

Min, thanks but I knew date when SRES sent their drill core for assay. I meant it was key to know when your drill buddies sent their samples. If say 4 weeks before us then we might have another 4 weeks for example.

Min that sounds good but guess we would ideally know when they sent theirs into the assay office to know how soon our results are likely...

Worth a tick up Treestump - like it!

Think we can say this is a pour update.
As Basil B would say boom boom Mr Anthony.

Just home after a bit of DIY.
Tried a dummy buy and nothing on offer but just offered .3155 for a dummy 1M sell.
This is looking very strong.
Whilst I don't like being called a lemming for no good reason I would not want to see Safe lose money and hope he keeps some because I think these are on the verge of doing very well.
And Splatted you lucky lucky (you know the rest) - well done!

Hi Treestump. Hope you won't mind me correcting something you posted. I replayed the interview and Patrick does not say that Perlite was undergoing lab testing. The only mention of lab testing was in relation to Pozz and that was in the past tense where he said the CMRC had done a lot of lab testing but were now going to use the bulk sample in customer projects; mill/grind then pour with the delay being due to taking a month to set/harden.
For Perlite we sent samples to 5 customers mid November so we are waiting for feedback from them. They will be testing expansion of those Perlite samples and once they have found time to do that they will know the results and if they want the product. Worth pointing out that these 5 Customers are in addition to 2 we already sent samples to and presumably are the 2 we have MOUs with. I can't help wondering if it is not a case of somehow delaying any offtake announcements for Perlite until such a time as the Company (us) want to announce that. In other words we have some kind of verbal agreement in place and have paperwork (contracts) ready to go.
DYOR and AIMHO

They are back to NT to buy any amount and can sell 1M at .306p

Just spotted that as looking at so many shares after researching stuff over the weekend.
Just offered .302 to sell 1M and cannot buy so bodes very well.
A lovely start to the year...
Good luck all.

Noted SJ, I got similar quote near close for 500K but if you got that quote for 5M then that is a good sign for 2021....
Normally MMs would not want to take on stock near to a close especially with a BH tomorrow. Strongly suggests they have buyers waiting for stock...
Anyhooo nice end to the year and best of luck to all here for a profitable 2021.