Sunshine Metals shifts strategic focus

Sunshine Metals (ASX:SHN) has completed the sale of its 100% interest in the Triumph Gold Project to Dart Mining NL (ASX:DTM). The deal is valued at $950,000 in cash and includes 83,333,333 fully paid ordinary shares in Dart Mining. This transaction grants Sunshine a 13.93% shareholding in Dart, allowing the company to focus on its Ravenswood Consolidated Project.

Strategic realignment and future outlook

Sunshine Metals has strategically divested its Triumph Gold Project to Dart Mining, receiving both cash and shares in return. This decision enables Sunshine to concentrate on its Ravenswood Consolidated Project, which contains significant resources of high-grade gold and base metals. The Ravenswood project is located in a resource-rich district and includes promising exploration targets. Sunshine retains an interest in the Triumph Project's future progress through its substantial shareholding in Dart. Moreover, Sunshine plans an orderly divestment of its other projects, such as the Investigator and Hodgkinson projects, as it continues to refine its focus and pursue growth in the mining sector.

Management insights on strategic direction

We are pleased to complete the sale of the Triumph Gold Project to Dart Mining. This transaction allows us to focus our efforts on the Ravenswood Consolidated Project, where we see significant potential. We maintain a stake in the success of the Triumph Project through our shareholding in Dart, and we are confident in Dart's ability to advance the project.