on Hot Rocks Investments Plc (ETR:GB00B1WV)
Hot Rocks Investments Acquires Stake in Sunshine Gold
Hot Rocks Investments plc has announced a strategic acquisition, taking a 25% equity stake in Sunshine Gold Capital Pty Ltd, an Australian gold exploration company. Sunshine Gold aims to uncover significant gold deposits in Western Australia, possessing two exploration leases covering 420 km2 in the Dexter Gold area.
The investment includes a £100,000 drawdown facility for exploration and operations. Additionally, Hot Rocks has an option to increase its stake to 51% by providing an extra £125,000. A collaborative technical committee will guide the exploration activities.
Shareholders of Sunshine Gold will receive 1,500,000 new shares from Hot Rocks, locked for six months. A further issuance of shares is planned contingent on the discovery of over 500,000 ounces of gold at Dexter.
An additional £100,000 was raised via subscription, with the new shares expected to be trading on the Aquis Stock Exchange by November 20, 2025.
R. P.
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