Sunrise Resources blames regulator for further delay to CS project

Sunrise Resources announced on Wednesday that, following a progress review with its lead permitting consultant EM Strategies, there would be a delay to the completion of mine permitting for its CS Pozzolan-Perlite project in Nevada.

The AIM-traded firm said the delay was caused by the late introduction by the lead regulator, the US Bureau of Land Management (BLM), of some additional information reporting requirements for one of the company's supplemental environmental reports.

It said that, while the bureau had undertaken to work “expeditiously” to review the additional information to try and mitigate any delay, the company now believed that the requirement - when coupled with the upcoming Christmas and New Year holidays - would push the completion of mine permitting into early 2020.

“Whilst any delay outside of our control is frustrating, all other aspects of the Bureau of Land Management permitting are now at an advanced stage and this delay is not expected to materially impact the company's production planning,” said executive chairman Patrick Cheetham.

“From this point forward we expect to be in a position to provide more regular updates on progress as we enter the final and public stages of mine permitting.

“In the meantime, the company continues to progress discussions with likely offtake customers and continues to be encouraged by the growing interest in our pozzolan and perlite products.”

At 1500 GMT, shares in Sunrise Resources were down 0.87% at 0.11p.