Sunstone Metals Ltd has raised AU$ 4 million through a Share Purchase Plan

Sunstone Metals Ltd (ASX: STM) received an overwhelming response, with applications totaling an impressive AU$ 3,985,000 under its SPP. Eligible shareholders had the opportunity to purchase up to 30,000 worth of shares at an attractive subscription price of 0.5 cents per share. Additionally, shareholders were entitled to apply for one free unlisted option for every two shares issued under the same terms as the Placement of AU$2.5 million announced on 09 September 2024. The SPP closed on 07 October 2024. Considering the tremendous support from the Company’s shareholders, the Directors have decided to accept oversubscriptions to the total amount subscribed, ensuring that all shareholders who applied can participate fully. The SPP shares will be issued today, 14 October 2024, and holding statements are expected to be dispatched to shareholders on or before 15 October 2024.

Sunstone Metals Ltd is making significant strides, preparing a maiden Mineral Resource Estimate at the El Palmar copper-gold project in northern Ecuador, conducting 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. The Company is actively pursuing partnership discussions for both projects, aiming to facilitate future transactions designed to accelerate exploration and Resource growth, ultimately unlocking the total value of these projects.

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