Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Sunstone Metals Limited ( (AU:STM) ) has issued an announcement.
Sunstone Metals reported a highly successful quarter marked by a 900,000-ounce increase in the Bramaderos Mineral Resource Estimate to 3.6 million ounces of gold equivalent, including a tripling of Indicated resources to 600,000 ounces to underpin an open-pit mine scoping study due in the June quarter. The company also expanded Bramaderos’ exploration targets, outlined a maiden 1.2-million-ounce gold-equivalent resource at the T1 deposit at El Palmar alongside a large exploration target of up to 45 million ounces gold equivalent, and confirmed drilling will resume at several key prospects in the March quarter. Financially, Sunstone ended December with $7.8 million in cash after an $8 million placement and option exercises, and it is advancing partnership and potential corporate transaction discussions, supported by newly appointed financial advisor RBC Capital Markets, to unlock value from its two Ecuadorian projects amid heightened sector interest.
The most recent analyst rating on (AU:STM) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Sunstone Metals Limited stock, see the AU:STM Stock Forecast page.
More about Sunstone Metals Limited
Sunstone Metals Limited is an ASX-listed mineral exploration company focused on gold and copper projects in Ecuador. Its primary assets are the Bramaderos Gold and Copper Project in southern Ecuador and the El Palmar Gold and Copper Project in the north, both targeting large-scale porphyry-style deposits with open-pit mine development potential.
YTD Price Performance: 5.00%
Average Trading Volume: 13,652,193
Technical Sentiment Signal: Buy
Current Market Cap: A$142.6M
Learn more about STM stock on TipRanks’ Stock Analysis page.