Sunshine Oilsands ( (HK:2012) ) has issued an announcement.
Sunshine Oilsands Ltd. reported its financial and operational performance for the year ended December 31, 2024, highlighting its ongoing challenges and efforts to sustain operations. The company has invested significantly in its oil sands projects but faces financial constraints, relying on financing and cash flow from operations to continue. The West Ells project, which resumed operations in 2022 after a temporary suspension, produced an average of 726.9 bbls/day of bitumen in 2024. The company continues to face uncertainty regarding its ability to continue as a going concern, with a need for favorable market conditions and additional financing.
More about Sunshine Oilsands
Sunshine Oilsands Ltd. is a company focused on the development of oil sands resources in the Athabasca region of Alberta, Canada. It holds approximately 0.64 billion barrels of risked best estimate contingent resources and has significant commercial development potential with around 1 million acres of oil sands and petroleum and natural gas leases. The company operates in the oil sands industry, with its primary project being the West Ells thermal commercial project.
YTD Price Performance: -28.33%
Average Trading Volume: 245
Technical Sentiment Signal: Strong Buy
Current Market Cap: $11.11M
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