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Sunstone Metals Ltd (ASX:STM)

ALERT: Price-sensitive ASX Announcement for STM
Current share price for STM : $0.215 0.035 (19.44%)+
Announcement
Release
29 Jul 2026 8:38AM
Price at Release
$0.180
Full Release
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Summary
Sunstone Metals Ltd has released its quarterly activities and cash flow report for the period ended 30 June 2026. The report details the ongoing exploration and development activities at the Bramaderos and El Palmar projects in Ecuador. The Bramaderos project, which is 87.5% owned by Sunstone, has shown significant potential with an estimated total exploration target of between 345 and 549 million tonnes at a grade of 0.45 to 0.73 g/t AuEq. The El Palmar project, where Sunstone currently holds an 82.6% stake, is also progressing with a Mineral Resource Estimate of 1.2 million ounces of gold equivalent. Financially, the company has reported a net cash outflow from operating activities of $355,000 and investing activities of $2.731 million for the quarter. However, a recent capital raise of $10 million was announced, securing necessary funds for continued exploration. The company maintains confidence in its ability to continue operations and achieve business objectives through strategic partnerships and investments.
Key Points
  • Sunstone Metals Ltd owns 87.5% of the Bramaderos project.
  • The Bramaderos project's total exploration target is between 345 and 549 million tonnes at 0.45 to 0.73 g/t AuEq.
  • Sunstone holds 82.6% of the El Palmar project, with plans to acquire 100%.
  • El Palmar has a Mineral Resource Estimate of 1.2 million ounces of gold equivalent.
  • Net cash outflow from operating activities was $355,000 for the quarter.
  • Net cash outflow from investing activities was $2.731 million.
  • A capital raise of $10 million was announced to fund ongoing exploration.
  • Sunstone is confident in continuing operations and meeting objectives through strategic partnerships.
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.