Sunstone Metals Bull Lauds Positive Updates

Dow Jones
Sep 04

Sunstone Metals's double dose of good news helps to entrench Shaw & Partners's bullish view of its stock. Firstly, metallurgical testwork returned materially higher recoveries of precious and base metals than previously assumed in an April scoping study. Recovery rates for copper is now at 80%, up from 75%. For gold, the recovery rate rises to 93%, from 85%. Secondly, recent assays have extended mineralisation outside the existing Bramaderos Resource, analyst Peter Kormendy says. "With only a handful of assays outstanding, we see limited scope for the December Quarter resource update to disappoint on grade or continuity," Shaw says. "The key swing factor remains how much of the 1.7-3.5 million oz Copete-Porotillo and Melonal-linked exploration targets convert to resource in the next update."

 

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