CAPITAL MARKETS

Sunstone cashes up ahead of 'compelling' drilling

Sells some Copperstone shares as rig gets set in Ecuador

This article is 3 years old. Images might not display.

ASX-listed Sunstone continues to hold about 71 million shares in Copperstone after the recent divestment totalling 82.5 million shares.

That equates of a circa 6.4% shareholder in Copperstone, with its original stake being about 30% when it sold a copper project in Sweden to the Stockholm-listed company in late 2018.

Sunstone's focus on Ecuador dates back to about the same period.

Earlier this month Sunstone said a ground magnetic survey at El Palmar "has identified an outstanding drill target with a classic porphyry signature".

A 2000m diamond core program was flagged to start this quarter.

Sunstone is led by well-credentialed exploration geologist Malcom Norris, previously associated with the world class Tujuh Bukit copper-gold discovery in Indonesia.

Sunstone started the current quarter with about $2.75 million cash.

Shares in Sunstone were unchanged at 1.9c in morning trade, capitalising the company at $42 million.

The stock is up about 200% over the past 12 months. 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.