Sunstone Metals (ASX:STM) Secures $4M Through Oversubscribed Share Placement

Thu 27 Mar 25, 02:36 AM | Team Kalkine

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Highlights

Sunstone Metals Limited (ASX:STM) has successfully secured $4,000,000 through an oversubscribed share placement at 0.5 cents ($0.005) per share. The placement was made to existing institutional and sophisticated shareholders, along with new investors. After accounting for costs of $240,000, the funds will be used primarily for working capital as Sunstone continues its ongoing corporate discussions aimed at unlocking value from its gold and copper assets.

As previously announced, Sunstone has been actively pursuing partnership opportunities to advance its significant gold and copper discoveries. The company has hosted site visits and allowed various parties to access its data room, with the goal of reaching a deal. A key opportunity is currently advancing, and a non-binding indicative offer could be finalized soon, leading to a confirmatory due diligence phase. Sunstone is progressing its investigations into the proposal and associated risks as it moves closer to a potential agreement.

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