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Sunshine Metals Limited (ASX:SHN)

ALERT: Price-sensitive ASX Announcement for SHN
Current share price for SHN : $0.027 -0.012 (-30.26%)+
Announcement
Release
28 May 2026 9:08AM
Price at Release
$0.038
Full Release
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Summary
Sunshine Metals Limited announced the closure of its Share Purchase Plan (SPP), which received overwhelming support from shareholders, resulting in applications amounting to $7,695,000, far exceeding the initial target of $3 million. The company has decided to accept the full amount without scaling back, issuing a total of 284,999,876 new shares. Proceeds will fund the acquisition of the Mt Moss Operation, the Liontown mine start-up, exploration, and working capital. The positive response to the SPP reflects strong shareholder confidence, aiding Sunshine Metals' future development plans and expansion activities.
Key Points
  • Share Purchase Plan closed with $7,695,000 raised
  • Target was exceeded, no scale-back on funds accepted
  • 284,999,876 new shares to be issued
  • Funds to be used for Mt Moss acquisition and Liontown mine start-up
  • Strong shareholder support and confidence
  • Move towards digital accounts for shareholders
  • Upcoming activities include magnetic surveys and drilling in June 2026
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.