Lion Selection Group (ASX:LSX) Commits $0.5M Investment in Sunshine Metals (ASX:SHN) Fundraising

Thu 27 Mar 25, 02:34 AM | Team Kalkine

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Highlights

Lion Selection Group Limited (ASX:LSX, Lion) has committed to investing $0.5M as part of a $3.0M capital raise announced by Sunshine Metals Limited (ASX:SHN, Sunshine). This investment aligns with Lion’s existing shareholding in Sunshine and will increase its stake to 7% upon completion of the fundraising. The capital raised will support Sunshine’s advancement of the Ravenswood Consolidated Project in North Queensland, a well-established mining area near Charters Towers.

The project’s focus is on the Liontown polymetallic deposit, which currently holds a Resource of 700koz gold equivalent recoverable. Since acquiring the deposit in September 2023, Sunshine has made significant strides, increasing its Mineral Resource by 42%, now totalling 6.99 million tonnes at 4.0g/t gold equivalent. These gains are complemented by a deeper understanding of the region’s geological potential, further enhancing Sunshine’s prospects for growth.

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