Sunrise Resources (LON:SRES) is an AIM listed diversified mineral exploration and development junior focused on white barite in South-West Ireland, diamond interest in Western Australia and Finland and newly acquired gold exploration projects in Western Australia.
Following the recent diamond and gold project announcements, Patrick Cheetham, the Sunrise Resources founder and Executive Chairman, has taken time out to discuss various aspects of the business, including, the white barite project, cue diamond and gold interests in Western Australia, results to date, work programme, market sentiment and financial demands.
Q1. Briefly, could you describe Sunrise Resources history, business model and mission?
Sunrise was established in 2005, as Sunrise Diamonds plc, to acquire the Finnish diamond exploration interests of Tertiary Minerals plc. We have had good technical success in Finland making a number of new kimberlite discoveries in an entirely new kimberlite field but, so far, diamond contents in the new discoveries have proved to be too low for commercial development. Since then, and following a name change to Sunrise Resources plc, the Company has been involved in gold exploration in Canada and its mineral projects now include a barite project in Ireland and gold and diamond projects in Australia.
Our mission is to discover a world-class mineral deposit that will deliver substantial capital gains to our shareholders and reward our other stakeholders. We are also looking to develop low capital-cost profitable mining operations that can sustain a wider exploration effort in the longer term.
We will only work in countries with stable political systems and favourable and transparent mining laws where corruption is not the way of life.
Q2. Why the focus on Western Australia? And, how do you find operating in Australia both with local stakeholders and the authorities?
Obviously Australia meets the country criteria I have just outlined and Western Australia is a region of extraordinary mineral endowment that continues to yield new discoveries in under explored areas. Much of my career as a geologist was spent in the West Australian Goldfields and so it is an area that I am very familiar with. Whilst dealing with the authorities is straightforward, it is expensive and time consuming to get Aboriginal Heritage clearance for drilling. However Native Title is not just an issue in Australia.
Q3. Could you please provide a summary of the projects Sunrise Resources is interested in?
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