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SHN - Sunshine Metals

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Hmmm, I believe I held PEL for a while around 18 years ago?
I don't think it did well.

Just a chart. I wouldn't buy without a FA scrub.

 
the usual pathway. >>>>>>>
  • PEL : Oct 2018. The securities of Pelican Resources Limited will be suspended from quotation immediately in accordance with Listing Rule 17.3, as ASX has determined that PEL's operations are not adequate to warrant the continued quotation of its securities and therefore it is in breach of Listing Rule 12.1
  • The company has executed a DOCA with Cockatoo Iron NL and its subsidiary Pearl Gull which terminates the revenue sharing agreement between the parties. In consideration for terminating the RSA, Cockatoo Iron has agreed to pay to Pelican $225,000. The consideration shall be payable by or on behalf of Cockatoo Iron prior to 31 December 2020.
  • The company enters into an agreement to acquire all issued capital of XXXX Gold, a gold-copper focused exploration company with 100% ownership of Triumph, Hodgkinson and Investigator projects in North Queensland. Consideration for the acquisition of XXXX Gold will include the issue of 88,000,000 Pelican Shares, 40,000,000 options over Pelican Shares and up to 100,000,000 Pelican Shares issued on achievement of JORC 2012 Resource milestones. Triumph and Hodgkinson gold projects in historical goldfields with potential for near surface high-grade and deeper large-scale deposits. Investigator copper project is an unexplored copper project on the Mount Gordon Fault Zone, Mt Isa. Experienced, successful management team and North Queensland based technical team. Shaw & Partners Limited proposed Lead Manager and Underwriter to an entitlement offer and broker offer to raise approximately $2,027,000. Potential for rapid delineation of JORC Resources. The XXXX Gold acquisition is targeted for completion on or before 30 November 2020.
  • 05 Nov 2020; that on or about this date the company consolidated its shares 5 for 8.
  • and then the name change
 
Market cap $25million.

TRIUMPH GOLD PROJECT (100%) . 50km S of Gladstone.
• 15km² intrusion related gold/ orogenic system under shallow alluvial cover
• 2 granted EPM’s, spanning 138 sqkm
• Maiden JORC Resource March 2022

RAVENSWOOD WEST Au, Cu, Ag, Mo & REE PROJECT (100%) . 100km S of Townsville
• Prospective for porphyry Cu-Au-Mo, intrusion-related Au and REE
• 6 granted EPM’s spanning 446 sqkm, 2 EPMA 222 sqkm
• 15km long Cu-Au-Ag-Mo corridor defined from Titov to Keans
• Significant REE-Au anomalism at Elphinstone Creek

INVESTIGATOR COPPER PROJECT (100%) . NE of Mt Isa
• Greenfields project in the world-class Mt Isa Inlier
• Same stratigraphic and structural setting as the Capricorn Copper Mine
• 2 granted EPM’s covering 115 sqkm
• First fieldwork commencing Feb 2022

HODGKINSON GOLD PROJECT (100%) . NE of Cairns
• Highly prospective structural environment along 3 major regional shears
• 6 granted EPM’s covering 365 sqkm
 
On July 10th, 2023, Sunshine Gold Limited changed its name to Sunshine Metals Limited.
 
System said:
On July 10th, 2023, Sunshine Gold Limited changed its name to Sunshine Metals Limited.
Click to expand...
bit of a pig in a poke. Toss in zinc, and molybdenum, of late. REE seems to have fizzled.

"Sunshine Metals is focused on discovery and development at its high quality gold and copper projects in Queensland, comprising Ravenswood Consolidated, Triumph, Investigator and Hodgkinson projects"​

 
SHN rose 100% this week after the company announced it had intersected multiple high-grade gold zones in the first of 12 RC holes at its Liontown prospect at the Ravenswood Consolidated project in northern QLD, including 17m @ 22.14g/t from 67m.

The zones are interpreted to be gold and copper-rich feeder zones to the overlying 2.3Mt resource.

Market cap of $25 million
 
Is this a possible penny dreadful for the Comp??????
 
I am picking SHN for December 2023 tipping comp. I just like the name of this stock.



Look at how this stock shot up just this week, let alone the whole month.
 
Dona Ferentes said:
SHN rose 100% this week after the company announced it had intersected multiple high-grade gold zones in the first of 12 RC holes at its Liontown prospect at the Ravenswood Consolidated project in northern QLD, including 17m @ 22.14g/t from 67m.
Click to expand...
but fallen back a bit this week, to detriment of Dec comp, but hey!
.
Bazza talks about its geochem:

Barry FitzGerald: Gold is erupting. Here's how to invest in a volcano of it - Stockhead

The decision to target high-grade gold/copper in a particular setting where previous explorers had focussed on zinc-lead mineralisation had paid off.
stockhead.com.au
 

SHN:ASX Announcement - Significant Increase in Liontown Resource - 07 Feb 2024

Read SHN's full ASX announcement titled "Significant Increase in Liontown Resource" from 07 Feb 2024, on Market Index.
www.marketindex.com.au

Significant Increase in Liontown Resource
116% increase in Indicated Resource to 1.85mt (63% of total)​
Highlights
  • The Liontown JORC 2012 Mineral Resource (“Resource”) has increased 21% to 2.94mt @ 10.6% ZnEq1. This includes a 116% increase in Indicated Resources to 1.85mt @ 10.9% ZnEq, now 63% of the total Resource.
  • The Resource contains a 10% increase in contained gold to 132koz Au and 60% increase
    in contained copper to 29kt Cu, further supporting Sunshine’s recent Au-Cu focus.
  • The upgraded Liontown Resource has increased the Ravenswood Consolidated Project’s
    total Resource to 5.45mt @ 12.0% ZnEq1, a 10% increase with the Indicated Resource now
    at 47% of the total.
  • Drilling is underway at Liontown, targeting Au and Cu rich pumice breccia and feeder fault
    zones in the footwall zone of the Liontown Resource
There aren’t no sunshine when she’s gone
There aren’t no sunshine when she’s away

There aren’t no sunshine when you abandon Sunshine for the next month’s tipping comp and decide to choose another dud instead
 
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