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Sunrise Energy Metals (ASX:SRL) - CEO, Sam Riggall
CEO, Sam Riggall
Source: Sunrise Metals
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  • Sunrise Energy Metals (SRL) spent much of the September quarter focused on progressing its Sunrise Battery Materials Project in NSW
  • In its latest update, SRL says it liaised with the State Government on changes to the project’s plan and progressed the long-lead electrical transmission line work scope
  • The company also began drilling for limestone resources, which it says is a key process reagent used in the wider Sunrise Project’s processing plant
  • Additionally, a previously signed offtake agreement was terminated during the quarter, while the planned demerger of Clean TeQ Water came into effect in July
  • SRL entered the December quarter with $33 million in the bank, while its share price is down 1.4 per cent at $1.90 during mid-afternoon trade

Sunrise Energy Metals (SRL) spent much of the September quarter focused on progressing its Sunrise Battery Materials Project in NSW.

The company’s flagship project is fully integrated from mine to battery chemicals with an annual forecast production of 21,000 tonnes of nickel, 4,500 tonnes of cobalt and potentially 200 tonnes of scandium oxide.

In today’s update to investors, SRL said it liaised with the NSW Government on gaining approval for modifications it has made to the project’s development plan.

It also progressed the long-lead electrical transmission line work scope, temporarily relocated autoclaves and engaged in discussions with landowners and other stakeholders.

Sunrise cancelled a previously signed offtake agreement by mutual agreement during the quarter, while the planned demerger of Clean TeQ Water came into effect in July.

Meanwhile, drilling began at one of the company’s exploration licences for limestone resources, which it explains is a key process reagent used in the wider Sunrise Project’s processing plant.

Drilling also wrapped up a 3-hole second phase campaign at the Phoenix Platinum Zone within Sunrise, with assay results expected later this month.

Finally, SLR completed its acquisition of the Hylea Project, giving the business more access to the prospective Lachlan Fold Belt of NSW.

Managing Director and CEO Sam Riggall said it had been a busy quarter.

“With the demerger of Clean TeQ Water now complete, Sunrise Energy Metals is firmly focussed on progressing the Sunrise Battery Materials Complex,” Mr Riggall said.

“In particular, work continues on a number of fronts to deliver a comprehensive financing
package for the project.”

SRL entered the December quarter with $33 million in the bank, enough cash to keep it going for another 6.9 quarters of growth.

Company shares were down 1.4 per cent at $1.90 during mid-afternoon trade.

SRL by the numbers
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