SHN - Sunshine Metals

Faramir said:

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

Click to expand...

Most probably are aware but just in case they're not, I thought I would add the following info taken from Stockhead's website this morning to clarify the use of Liontown resource in the posts above.

Sunshine Metals (ASX:SHN) was out in front on Wednesday morning, popping a 40% spike on news that there’s been a significant upgrade to the company’s Liontown resource (not to be confused with Liontown Resources (ASX:LTR), which is a whole different company).

Sunshine’s Liontown resource (again, not the company) has increased 21% to 2.94mt @ 10.6% ZnEq, which includes a 116% increase in Indicated Resources to 1.85mt @ 10.9% ZnEq, now 63% of the total resource.

For what it’s worth, Liontown Resources (the company, not the resource) is also moving sharply – up nearly 10% last time I checked, without any announcement… so I am growing concerned that there might be investors throwing money at the wrong thing in their rush to get behind Sunshine’s fabulous news.

Heading in the right direction at the moment @Faramir