Sunshine Metals (ASX:SHN) has announced that Pluton Resources declared a first and final dividend to the unsecured company creditors for $0.55 on the dollar.
Sunshine has been awaiting outstanding royalty payments from Pluton on shipments of iron ore from the Cockatoo Island Project that was completed in the 2015 financial year, in addition to interest on unpaid royalties.
Sunshine has now received $634,302 which will be used towards the company’s current exploration programs at Sybil as well as their Liontown gold study.
Sunshine Metals is focused on developing its projects in Queensland, with its Ravenswood Consolidated Project as a core focus.
Write to Amy Rotman at Mining.com.au
Images: Sunshine Metals
