Sunstone Metals (ASX:STM) Share Purchase Plan Launch

Sunstone Metals Limited (ASX:STM) has announced the launch of a $2 million Share Purchase Plan (SPP) to eligible shareholders. The SPP offer, which is on the same terms and conditions as the recently completed $2.5 million Placement, aims to further underpin partnerships and resource strategy. Participants in the SPP will be entitled to one free unlisted option for every two Shares to be issued. The proceeds from the SPP will be utilized for preparing a maiden Mineral Resource Estimate at the El Palmar copper-gold project in northern Ecuador, as well as for exploration activities at the high-grade Limon gold-silver discovery within the Bramaderos gold-copper project in southern Ecuador. Sunstone also plans to advance partnership opportunities at both El Palmar and Bramaderos, with the goal of accelerating exploration and resource growth to unlock the full value of the projects in a timely manner.

Sunstone Managing Director, Patrick Duffy, on SPP and Resource Strategy

We are pleased to offer our shareholders to participate in the SPP and SPP Options Offer on the same terms as the recently completed placement offered to institutional, professional and sophisticated investors. The SPP gives Sunstone shareholders an attractive opportunity to increase their exposure to the substantial upside offered by the Company's strategy to grow the resources at its projects and unlock their full value through partnerships. We believe we are on the cusp of a new chapter of growth underpinned by three significant discoveries with immense growth potential and strong appeal to major players seeking hard-to-find exposure to such major mineralised systems.

Sunstone Metals (ASX:STM) Share Purchase Plan Summary

Sunstone Metals Limited (ASX:STM) has launched a $2 million Share Purchase Plan (SPP) to eligible shareholders, offering one free unlisted option for every two Shares to be issued. The proceeds from the SPP will be used for preparing a maiden Mineral Resource Estimate at the El Palmar copper-gold project in northern Ecuador, exploration at the high-grade Limon gold-silver discovery within the Bramaderos gold-copper project in southern Ecuador, and advancing partnership opportunities at both El Palmar and Bramaderos. Sunstone's Managing Director, Patrick Duffy, expressed optimism about the SPP, emphasizing the potential for substantial upside and growth through the Company's strategy to unlock the full value of its projects via partnerships. The SPP and SPP Options Offer are expected to close on Monday, 7 October 2024.