Sunshine Gold Ltd ( (AU:SHN) ) just unveiled an announcement.
Sunshine Metals Limited has announced a successful $3.0 million share placement to accelerate drilling and mining studies at its Ravenswood Consolidated Project. The funds will be used to advance shallow oxide gold targets, with significant shareholder support, including an increased stake by Lion Selection Group Ltd. This financial boost is expected to enhance Sunshine’s operational capabilities and potentially improve its market positioning by rapidly evaluating the commercial potential of its gold assets.
More about Sunshine Gold Ltd
Sunshine Metals Limited is a company in the mining industry, focusing on the exploration and development of shallow oxide gold resources. The company is actively working on the Ravenswood Consolidated Project, which includes key targets such as Liontown, Plateau, Tigertown, and Coronation. Their strategy involves identifying and evaluating shallow gold resources for processing at nearby toll treating mills, particularly during periods of high gold prices.
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$12.7M
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