Gunsynd PLC Sunshine Minerals Update (4756V)
23 Juli 2018 - 2:26PM
UK Regulatory
TIDMGUN
RNS Number : 4756V
Gunsynd PLC
23 July 2018
Gunsynd plc
("Gunsynd" or the "Company")
Update on Sunshine Minerals
Gunsynd Plc (AIM: GUN, NEX: GUN) announces an update regarding
its investee company, Sunshine Minerals ("Sunshine"). Gunsynd has
been informed by the management of Sunshine that the Mines and
Minerals Board of the Solomon Islands has issued a Prospecting
Licence ("PL") to Sunshine Nickel ltd (an 80% owned subsidiary of
Sunshine) over the Jejevo tenement.
Gunsynd has a 10% investment in Sunshine and a convertible loan
note which, if converted, would equate to Gunsynd holding a
combined total of 20% of Sunshine's issued share capital.
About Jejevo
Jejevo has a relatively long exploration history. Most notably,
Sumitomo undertook a considerable amount of work including over 500
drill holes, culminating in an in-house resource estimate of 14Mt
at 1.19% Nickel, but also extending to a full ESIA report in
2014.
Hamish Harris, Executive Chairman, commented:
"We are extremely pleased with this news. We look forward to
working closely with Sunshine to progressing towards a mining
licence as soon as possible. The great advantage of this nickel
deposit is the previous work done which should expedite the
process. "
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
The directors of Gunsynd accept responsibility for this
announcement.
For further information please contact:
Gunsynd plc
Hamish Harris +44 20 7440 0640
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 20 7213 0880
Peterhouse Corporate Finance
Lucy Williams +44 20 7469 0930
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END
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