REG - Gunsynd PLC - Investee Company update – Richmond Hill Resources

GunsyndAnnouncement

12/03/2025 07:15

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RNS Number : 3438A  Gunsynd PLC  12 March 2025

Gunsynd Plc

("Gunsynd" or the "Company")

Investee Company update - Richmond Hill Resources PLC (formerly Rogue Baron
PLC) - Corporate Update

 

 

Gunsynd Plc (AIM: GUN) notes a Corporate update from Richmond Hill Resources
PLC ("Richmond Hill") (AQSE: SHNJ).

 

"Richmond Hill (AQSE: SHNJ), is pleased to announce that it has signed a
letter of intent with Three Mile Beach Ltd ("Three Mile") with respect to the
acquisition by Richmond Hill of the legal and beneficial interest of certain
mineral exploration licences in Quebec ("Proposed Transaction").

 

In consideration for Richmond Hill undertaking and incurring fees, expenses
and other costs in connection with the due diligence investigations in
relation to the Proposed Transaction, Three Mile has agreed to grant to
Richmond Hill a 60-day period of exclusivity to allow Richmond Hill to conduct
due diligence and to decide whether to proceed with the Proposed Transaction.

 

Project Details

The Saint Sophie Copper Project spans 87 square kilometres and is located in
the Beauce region of Quebec, 60 Km South of The Becancour Battery Park and 150
Km North-East of Montreal. The project is comprised of multiple worked indices
and historic mines of high-grade native copper, hosted in sedimentary rock and
epithermal vein systems, with 146 claims spanning 87 square kilometres.

Highlights

 * More than 14 worked indices and historic mines with copper grades over 55%

 * Highest copper grades from drilling and indices:  include 1.25t of ore @32%
Cu, trench containing 42% cu and grab sample at 55% Cu

 *  Also, high grade discoveries of silver, gold (9 g/t au trench sample) and
molybdenum

 * Drilling discovered 13 metres and 6.70 metres of Pendlandite"

 

At 31 Jan 2025, Gunsynd had loans outstanding (including interest) of
£153,552 and holds 3,590,594 ordinary shares representing approximately 5.9%
of the issued share capital of Richmond Hill.

 

 

Peter Ruse, Director of Gunsynd, commented:

 

"Having worked directly in Mineral exploration in the province of Quebec,
Canada, I am encouraged by the proposed acquisition of the Saint Sophie Copper
project that may present a promising future for Richmond Hill to seek out a
high-grade ore body in a sought-after, tier-1 mining jurisdiction.  The
property has numerous historic mineralised occurrences and has had very little
modern exploration."

 

 

 

Gunsynd looks forward to providing further updates from Richmond Hill in
relation to the transaction.

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

For further information, please contact:

 Gunsynd plc                   +44 (0) 78 7958 4153

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP  +44 20 7213 0880

 Liam Murray/James Western

 Peterhouse Capital Limited    +44 20 7469 0936

 Lucy Williams

 

 

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