REG - Sunrise Resources - PROJECT UPDATE – CS NATURAL POZZOLAN

Sunrise ResourcesAnnouncement

04/05/2022 07:00

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RNS Number : 1697K  Sunrise Resources Plc  04 May 2022

4 May 2022

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

 

PROJECT UPDATE - CS NATURAL POZZOLAN

 

Sunrise Resources plc is pleased to provide the following update on its CS
Natural Pozzolan-Perlite Project following the Chairman's recent visit to the
United States.

 

 

Key Points

 

·    Meetings held with multiple parties, including existing and new
interested parties which include :

 

Ø two cement & ready-mix companies,

Ø one major fly-ash distributor,

Ø a large building materials company, and

Ø a new cement clean-tech company.

 

·    Due-diligence field visits carried out.

 

·    Industry feedback continues to highlight the use of natural pozzolan
in key strategies being employed in the cement and concrete industries towards
net-zero CO(2) emissions.

 

___________________________________________________________________________

 

 

Following the Company's announcement of 8 March 2022, the Company immediately
prioritised ongoing discussions with previously identified interested parties.
In tandem, the Company identified and commenced discussions with new
interested parties and is pleased to have extended the reach of these into the
new, innovative "Clean Tech" sector for the first time.

 

These discussions continue and the Chairman's recent trip to the US enabled
these to be advanced and site visits to be undertaken with certain parties.

 

Management believes a broad reach of discussions helps mitigate project risk
and creates competitive interest.  Whilst pleased with the recent progress
made in advancing the project, Management continues to develop both its scope
and range, by identifying and reaching out to other potentially interested
parties.

 

All discussions are taking place against a background of fundamental change in
the cement and concrete industries which is being driven by cement industry
targets to achieve net-zero CO(2) emissions. The Company will issue an
information update shortly to explain how the cement and concrete industries
are addressing these targets and how natural pozzolan is integral to a number
of these strategies.

 

Commenting today, Executive Chairman Patrick Cheetham said:

 

"A busy schedule of meetings on my recent visit to the US has allowed us to
advance discussions with a number of existing and new interested parties from
across the cement and concrete industries. I believe we are ahead of the curve
on natural pozzolan, with one of the few fully permitted and undeveloped
natural pozzolan deposits in the western US.  We have achieved this on a
project spend of less than £1.5 million to date.

 

Globally, over 4 billion tonnes of cement are produced every year and this
results in 8% of man-made CO(2) emissions. The industry in the US is committed
to net-zero emissions and our recent discussions have underlined the role of
natural pozzolan in meeting these targets.

 

It is not surprising then that we are seeing an upsurge of interest in natural
pozzolan, not just from the traditional cement and concrete companies, but
also from the building materials companies that supply to those companies, as
well as new generation clean-tech cement companies developing new types of
carbon-neutral cements and concretes using natural pozzolans in their
formulations.

 

We continue to be confident that a partner will be found to ensure development
of our pozzolan projects and the continuing expansion of our interests in
natural pozzolan where there is a compelling business case."

 

 

 

 

Further information:

 

 Sunrise Resources plc                  Tel: +44 (0)1625 838 884

 Patrick Cheetham, Executive Chairman
                                        Tel: +44 (0)207 628 3396

 Beaumont Cornish Limited

 Nominated Adviser

 James Biddle/Roland Cornish
                                        Tel: +44 (0)207 469 0930

 Peterhouse Capital Limited

 Broker

 Lucy Williams/Duncan Vasey

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 which  forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

Shares in the Company trade on AIM. EPIC: "SRES". Website:
www.sunriseresourcesplc.com (http://www.sunriseresourcesplc.com)

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