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HomeFinTechSunstone Metals: Raises $24m for drilling at gold-copper discoveries

Sunstone Metals: Raises $24m for drilling at gold-copper discoveries

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Sunstone Metals Raises $24m for drilling at gold-copper discoveries

  • Sunstone Metals (STM) gets firm commitments to raise about $20 million via a share placement
  • The funds will go towards exploration drilling at its Bramaderos and El Parmar projects in Ecuador
  • The company has subsequently launched a $4 million share purchase plan (SPP) to further bolster exploration efforts at the gold-copper discoveries
  • At the completion of the placement and the SPP, the company will have approximately $30 million in cash and around $2.5 million in tradable equities
  • STM shares hold steady at seven cents

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