Member Info for Dubliner

Couldn't agree more fulmar!

Did I really hear the Safetrade call others back biters when all he does is **** PC and **** fellow investors.
What an absolute 100% copper bottomed moron - good riddance.
I remember him bragging about buying in the summer post permit - his exit would have been quicker if he had not been buying / trading.

In fact this part is really interesting “ This collaboration is taking place against a background of ongoing offtake and joint development discussions with the CRMC”

The hint of joint development options could be a game changer for us.
Hope 2021 is finally our year.

Just read it totty, most encouraging news indeed.

Agree totty, his cv looks very good. Makes me wonder if NEDs should only be allowed a certain term in office and then have to step down to get new ideas in - perhaps that is already the case.......

Can think of worst places for a little gardening!
All the best Rod to you and yours for a great Christmas and to all investors here too......

Hi Rod thanks for asking am ok and hope you are too.
You are right of course jousting with fellow investors is not good and am going to get back in my box.
I retired early October and probably have too much time on my hands and looking at my shares far too often and getting impatient with them. Some good news would be nice.

Hi Min, I ticked up your post by mistake instead of reply so please ignore that one from the tally.
I have often though when you post 'everything goes well at SRES' or when you do same on TYM that it was kind of suggesting you know something but perhaps I misunderstood.
I will say this though, your subject line of 'Sunrise Built For Athletes' was somewhat misleading.
If you re-read the article which you linked earlier the 'Built For Athletes' part was about a Gym equipment Company in Manchester and nothing to do with Sunrise resources! I shall leave you to ponder that one and once again wish you good luck.

Thanks Den, no probs and hope you are well.

Hi Mr Min, I personally have no interest in folks who claim to have news or dangle such carrots.
Good luck to you though.

Pretty certain you will be correct there splatted.

Min, that is just a summary of bits from the results so zero new info.
If the 'Big Forward' is about to start I don't think it will be on the strength of that article.
Far more likely that we get Clayton news which 'might' start to move things.

Cont’d..
I noted that the usual Stragetic Plan section of the Results has been dropped.
This showed what we were planning to achieve for the year and how we did against that. It also provided a target for the next year. On page 4 under Strategic results we have this statement;
“The Strategic Plan is on track although delays to the permitting process have meant that we did not meet our objective to be in production in 2020. Nevertheless, our CS Project is now fully permitted, and we are aiming for first commercial production in 2021”

** Comment, the RNS of 27th October had stated we were aiming for first Commercial production in Spring 2021. My hope is that the Company are still working to Spring 2021! **

One other point is around Warrants. 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? This might explain why we so often get NT for dummy sells!

There was another block of 35M warrants at .195p were issued this year at 6th August 2020 which are valid for 5 years. It seems that the Remuneration committee, chaired by Mr Roger Murphy, awarded 30M of these to Patrick – page 22 has details and is described as a long-term incentive plan.
The warrants cannot be exercised until after 5th August 2021 and half of these (15M) can only be exercised after ‘The Company makes the first sustainable sales of perlite / pozzolan Product from the CS Project’.

I note on page 42 that Patrick now owns 231M shares (includes 100M shares from the Feb placing which he participated in) plus the 30M assigned warrants. This is a great holding and Patrick will be pushing to get CS to production and to increase the share price. For the warrants, if Patrick can get us to Production and get the SP to 1p those 30M warrants would be in profit to the tune of circa £240K. Every 1p on top of that in the SP increases that profit by £300K.

Summing up my thoughts for this and prior post.
It has been a very solid 12 months and we have some good possibilities on the precious metals front.

However, stating simply ‘2021’ for Production and saying this and that will be done ‘in due course’ is frustrating. We expect more detail and if plans go awry then so be it – stuff happens in life.

I hope that folks found this analysis of use.

I did not get chance to read through the results Friday but have now had a detailed look and wanted to post my thoughts. My guess is that some folks only read the early part of the document so perhaps missed some of the details.

I prefer to read as a PDF viewer from the SRES website and any page references below are based on this 45 page document at;
https://www.sunriseresourcesplc.com/downloads/sunrise-resources-plc-rns-final-results-11-december-2020.pdf

Firstly the results are for year ending 30th Sept 2020.
The results for the prior year were delayed as we will remember and were published via RNS on 19th Feb 2020.

I noted some disgruntled posts on Friday but perhaps we should look at the year as a whole firstly.

The SP at 1st Oct 2019 was .12p and at 30th Sept 2020 was .255p so more than a doubling in that period.
We received all required permits for commencement of mining during the period including a FONSI for the Environmental Assessment.
We have paid the first bond ($106.9K) for the trial mining phase (noted in RNS of 29th July 2020)
We raised £1.47M net of expenses across 3 placings in Nov 2019, Feb 2020 and Aug 2020.
At end Sept we had cash/equivalents of £1.089M so are well funded for some time to come.
We have put one drill hole into Clayton and are awaiting the assay results for this we hope by Christmas.
We are progressing plans to drill Newark (Nevada) and Bakers (Western Australia) in early 2021

So based on the above summary of the year then perhaps we don’t have too much to complain about!

A few other snippets from the Results;
Page 9 – Perlite typically sells at US$72 per ton at the mine gate but coarse and super-coarse horticultural grades can command a higher price.
**The price is obviously subject to negotiation with Customers, slide 24 of our presentation on the website indicates a possible US$100 per ton**

Page 9 – Looking at the update for Ridge Limestone project it seems a bit of sampling has been done this year and they have founds some zinc at 15.8% in grab samples so we might see more on that.

Page 10 – A comment for the Stonewall project advises that the Company has received outside interest.

To be continued in a subsequent post…

Hi comeonsres2 - I ticked up your post.
We all get frustrated with shares as it is real money at stake.
Stand by for two long posts where I have done an analysis / summary of the results which I hope folks find instructive!

For accuracy purposes I think the 16th Dec was that interviewer ladies birthday and then discussion if assays will be back by then. I think PC flippantly said he would speak to the assay office and see what he could do so they were - obviously that was a joke. So the only commitment was pre Christmas and that it might be a nice present.

If Ageos is still reading here occasionally be interested to know what kind of grade of silver we would need to make any possible buyer or JV interest sit up and take notice.

Nice to see the post from Terrafin amongst a large number of downbeat posts.
PC does read the updates here and will be aware of the frustration so let's hope we get an update before the Christmas hols.

Thanks Ageos, as always clarification appreciated.

Oops I meant geological term of course not bloomin geographic.

Appreciate the links SGD. I am and have been invested in other explorers and read the term/s in other RNSs.
I believe that AGEOS also pointed out it is a geographic term / description (my words).
Irrespective of my somewhat pendantic views on accurate interpretation of terminology I remain very hopeful that we will get good news from the assays. If we do what happens then will be interesting in terms of how Clayton might add value for us all.