Sunshine Metals (ASX:SHN) has opened a share purchase plan (SPP) to raise up to $3 million at $0.027 per share.
On 30 April, the company announced a $22 million capital raise, as well as the $3 million SPP. The funds will be used to fund an acquisition of the Mt Moss Operation — a processing facility adjacent to the Sybil and Liontown deposits in Queensland.
Sunshine will also use the funds to undertake a mine start-up at Liontown, as well as exploration, resource development, and general working capital.
Under the SPP, eligible shareholders will be able to purchase up to $30,000 worth of shares.
The closing date for the SPP is 22 May 2026 at 5pm AWST.
Sunshine Metals is a gold and base metals mining company with assets in Queensland.
The Ravenswood Consolidated Project is located in the Charters Towers-Ravenswood district which has produced more than 20 million ounces of gold and 14 million tonnes of volcanic massive sulphide zinc-copper-lead-gold ore.
Write to Aaliyah Rogan at Mining.com.au
Images: Sunshine Metals
