Dart Mining expands with strategic acquisition

Sunshine Metals Limited (ASX: SHN) has finalized the sale of its Triumph Gold Project to Dart Mining NL (ASX: DTM). The transaction included a cash payment of $950,000 and the transfer of 83,333,333 fully paid ordinary shares in Dart Mining. This deal provides Sunshine Metals with a 13.93% shareholding in Dart Mining. The move allows Sunshine to focus on its primary asset, the Ravenswood Consolidated Project.

Strategic shift and future outlook

Sunshine Metals Limited has strategically divested its 100% interest in the Triumph Gold Project to Dart Mining NL, receiving $950,000 and a significant equity stake in Dart Mining. This transaction aligns with Sunshine's strategy to concentrate on the Ravenswood Consolidated Project, which holds promising gold and base metal resources. Sunshine anticipates a resource upgrade at the Liontown section of Ravenswood by December 2024 and is awaiting drilling results from Highway East/Truncheon. The Ravenswood project is situated in a prolific mining district, and Sunshine remains optimistic about its exploration potential and the opportunity to leverage from Dart's advancement of Triumph.

Executive insights on strategic sale

We are pleased to have completed this transaction with Dart Mining. It allows us to concentrate our efforts on the Ravenswood Consolidated Project, where we see significant potential for growth. The stake in Dart Mining also ensures that we maintain an interest in the future success of the Triumph Gold Project.