InvestSMART

Sunshine Metals Limited (ASX:SHN)

ALERT: Price-sensitive ASX Announcement for SHN
Current share price for SHN : $0.033 0.002 (6.45%)+
Announcement
Release
9 Jun 2026 9:59AM
Price at Release
$0.031
Full Release
download
Summary
Sunshine Metals Limited has entered into a binding agreement to sell its Hodgkinson Project in Queensland to EQ Resources Ltd for a total of $250,000, enhancing its financial position after recent capital raises. The divestment allows Sunshine to concentrate on other key projects like the Mt Moss Gold Plant and the Sybil epithermal field, with various activities planned to commence throughout 2026. The transaction, expected to complete by August 2026, includes requisite regulatory and third-party approvals.
Key Points
  • Sunshine Metals Limited has finalized a binding sale and purchase agreement with EQ Resources Ltd to divest the Hodgkinson Project in Queensland for $250,000 cash consideration.
  • The transaction allows Sunshine to focus on refurbishing, constructing, and permitting the Mt Moss Gold Plant and exploring the Sybil epithermal field.
  • The sale supports Sunshine's cash position following a recent $19 million Share Placement and $7.6 million Share Purchase Plan.
  • The divestment agreement includes $100,000 payable on execution and $150,000 on completion, pending regulatory approvals and third-party consents.
  • Sunshine will maintain its focus on the Ravenswood Consolidated region, near its Townsville head office.
  • Planned activities include a Sybil magnetic survey, drilling at Francis Creek, a resource upgrade at Liontown, and commencement of construction at Mt Moss by September 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.