Sunshine Metals (ASX:SHN) has secured firm commitments for a $5M placement to fund their exploration at the Sybil epithermal Au project and to complete their gold study at Liontown, which is part of the Ravenswood Consolidated Project. The placement of $5M considers a share issue price of $0.012, with new shares issued to both new and existing institutional and sophisticated investors.
Lion Selection Group (ASX:LSX), the company’s largest shareholder, has committed $1M already, providing them with a 9.2% shareholding in Sunshine Metals.
Dr Damien Keys, Managing Director of Sunshine Metals commented, “We are delighted with the support for the Placement and welcome a number of new professional and sophisticated investors to the register. In particular, we thank Lion Selection for their increased investment and ongoing support.
Funds raised from the Placement will allow us to advance Sybil, with drilling and geophysical programs planned for September and October 2025. A diamond drill rig has been mobilized to Sybil with the first program set to commence.
We will also continue to drive the Liontown Au study. Metallurgical test work, a resource update and preliminary design work are all tabled for September 2025. A diamond drill rig is also turning at Liontown North testing the prospective Liontown horizon.
This all bodes well for a busy period of activity and news flow.”
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