REG - Sunrise Resources - UPDATE - CS PROJECT

Sunrise ResourcesAnnouncement

08/03/2022 09:15

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RNS Number : 0097E  Sunrise Resources Plc  08 March 2022

8 March 2022

 

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

 

UPDATE - CS PROJECT

 

Sunrise Resources plc wishes to provide the following update for its CS
Natural Pozzolan-Perlite Project in Nevada, USA.

 

For a protracted period, and as first advised in the announcement of 17
December 2020, the Company has been working with a large cement and ready-mix
company (CRMC) in providing samples for commercial testing and has been
holding regular negotiations and, more recently, discussing terms for a joint
development of the CS Natural Pozzolan-Perlite Project.

 

The Company's pozzolan has passed all of the CRMC's testing programmes,
including large scale grinding tests on a 500-ton bulk sample of run-of-mine
pozzolan. This demonstrated the commercial application of the Company's high
quality natural pozzolan as a substitute for fly ash and cement in concrete,
both on a bench scale and in real-life concrete pours.

 

However, the Company has now terminated further negotiations with the CRMC as
the already extended discussions have failed to reach a satisfactory
conclusion. The Company will now prioritise ongoing discussions with other
potential partners for the CS Project.

 

Commenting today, Executive Chairman Patrick Cheetham said: "We are frustrated
that the CRMC has been unable to fully commit to the project in any acceptable
timeframe, despite the obvious pressures faced by cement and ready-mix
companies to develop sustainable strategies to lower the embodied carbon
contained in their concrete products. Our mine permits continue in force and
we believe that the testwork carried out by the CRMC on CS natural pozzolan
has materially increased the value of the project to the Company and other
interested parties. The Board remains confident that a suitable partner will
be secured for development of the CS Project, and we will now concentrate on
discussions with other parties currently testing samples and reviewing data on
the project."

 

 

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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