New Risk • Jan 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$2.4m net loss in 3 years). Market cap is less than US$100m (AU$135.8m market cap, or US$90.8m). Duyuru • Dec 09
Sunstone Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 8 million. Sunstone Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 421,052,632
Price\Range: AUD 0.019
Discount Per Security: AUD 0.00114
Transaction Features: Subsequent Direct Listing Duyuru • Sep 24
Sunstone Metals Limited, Annual General Meeting, Oct 24, 2025 Sunstone Metals Limited, Annual General Meeting, Oct 24, 2025. Location: at the offices of hlb mann judd, level 9, 550 bourke street, vic 3000, melbourne Australia Duyuru • Apr 02
Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Transaction Features: Subsequent Direct Listing Duyuru • Mar 27
Sunstone Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million. Sunstone Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 800,000,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Transaction Features: Subsequent Direct Listing Duyuru • Nov 01
Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.5 million. Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 474,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Oct 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 66% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$35.9m market cap, or US$23.8m). New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (AU$38.5m market cap, or US$25.9m). Duyuru • May 15
Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.022 million. Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.022 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 165,114,091
Price\Range: AUD 0.011
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,067,727
Price\Range: AUD 0.011
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,636,364
Price\Range: AUD 0.011
Transaction Features: Subsequent Direct Listing Board Change • Apr 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Stephen Stroud was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Feb 13
Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 5.024 million. Sunstone Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 5.024 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 405,750,000
Price\Range: AUD 0.012
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,916,667
Price\Range: AUD 0.012
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing Duyuru • Dec 15
Sunstone Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 5.179 million. Sunstone Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 5.179 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 418,666,667
Price\Range: AUD 0.012
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,916,667
Price\Range: AUD 0.012
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing Duyuru • Nov 09
Sunstone Metals Limited Announces the Appointment of Patrick Duffy as Non-Executive Director Sunstone Metals Limited announced the appointment of a new Non-Executive director, Mr. Patrick Duffy, effective November 8, 2023. Mr. Duffy is a Chartered Accountant with extensive international leadership, mine development, financial and governance expertise. Mr. Duffy has held the roles of both Chief Corporate Development Officer and Chief Financial Officer for Red 5 Limited and is a key member of the Company’s leadership team that has established Red 5 as a successful mid-tier Australian gold producer through the development, construction and production ramp up of the new 5.5Mtpa King of the Hills (KOTH) Gold Mine in Western Australia. Mr. Duffy’s role has had responsibility for all financial, investor relations, business development and strategic activities, securing the global equity and debt funding requirements for the development of the KOTH Project and also facilitating the sale of the Company’s Siana Gold Mine in the Philippines. Mr. Duffy began his career with Ernst & Young and has since had broad leadership and executive roles in the international resource sector. He was CFO for the development of Xstrata’s USD 6 billion Tampakan Copper and Gold Project in the Philippines and was Director – Strategy & Performance for the construction and production ramp up of Glencore Xstrata’s USD 7 billion Koniambo Nickel Project in New Caledonia. He has worked extensively across Asia and the Pacific with mining and steel companies, including establishing a successful Hong Kong-based management consulting company, and has also had executive roles within mining private equity and the agricultural technology sector. With this new appointment, the Board of Directors is as follows: Mr. Graham Ascough – Non-Executive Chairman; Mr. Malcolm Norris – Chief Executive Officer and Managing Director; Mr. Stephen Stroud - Non Executive Director and Mr. Patrick Duffy - Non Executive Director. Duyuru • Sep 15
Sunstone Metals Limited, Annual General Meeting, Oct 17, 2023 Sunstone Metals Limited, Annual General Meeting, Oct 17, 2023, at 11:30 E. Australia Standard Time. Location: Sunstone Metals Ltd, 9 Gardner Close Milton Queensland Australia Agenda: To receive the financial report of the Company and its controlled entities for the year ending 30 June 2023, together with the declaration of the directors, the directors' report, the Remuneration Report, and the auditor's report; to consider ratification of prior issue of placement Shares under Listing Rule 7.1; to consider issue of Options to Mr Graham Ascough; and to consider any other matters. Duyuru • Feb 16
Sunstone Metals Ltd Announces Extremely Promising Assays from Drilling At the Large T2 Geophysical Anomaly At its El Palmar Porphyry Gold-Copper Discovery in Northern Ecuador Sunstone Metals Ltd. announced extremely promising assays from drilling at the large T2 geophysical anomaly at its El Palmar porphyry gold-copper discovery in northern Ecuador. The assays contain gold grades of up to 2m at 3.2g/t from 72m, and 13.5m at 1.1g/t from 97.5m, from the edge of the anomaly, which is 1km long x 450m wide. Furthermore, the anomaly is bound by the regionally-significant Toachi Fault zone and associated orthogonal structures a scenario strongly similar to the 3 billion-tonne SolGold Alpala copper-gold porphyry deposit, within the Cascabel project, located 65km to the north-east. Recent preliminary age dating has confirmed that the mineralised gold-copper porphyry at Sunstone's El Palmar project is the same geological age as Alpala. T2 drilling results: Target T2, located east of the El Palmar T1 porphyry system is developing as a very compelling large porphyry gold-copper target based on several independent datasets. Three drill holes have been completed and further drilling to test the target is planned to commence in late March. Surface rock chip sampling defined an area of at least 220m x 50m averaging 0.4g/t gold and 0.1% copper in a strong porphyry stockwork underlying a silica-clay altered cap. The rock chip samples were consistently mineralised and included six samples which returned assays of greater than 1 g/t gold, which is encouragingly very high for porphyry systems. The geological interpretation is that this outcrop is part of the upper zones of a large porphyry system. Soil sampling at T2 defined a significant and coherent gold-copper-molybdenum anomaly coincident with an extensive alteration cap. Geophysical surveying defined a conductive body coincident with the surface metal anomalism and recent drilling results. This conductive body plunges, expands and intensifies southward for a further 800m where it abuts the regional Toachi Fault zone. The structural scenario at T2 is very significant and can be compared to the nearby Alpala copper-gold porphyry deposit at the SolGold Cascabel Project. Geological age dating from samples from El Palmar T1 have returned preliminary results that indicate these systems have a similar geological age as Alpala. The recent drilling results reinforce the concept of an upper-level porphyry/epithermal system with significant gold mineralisation grading down to a copper-gold system with porphyry B veins in the lower parts of EPDD024. Additional porphyry targets for testing at El Palmar: Drill hole EPDD021 was drilled into the T1 target. It intersected 866.6m at 0.26g/t gold and 0.1% copper from surface, including 24m at 0.39g/t gold and 0.19% copper from 45.5m, and 11.25m at 0.81g/t gold and 0.2% copper from 501m. This result confirms the significant vertical extent of mineralisation at T1 which requires follow-up drilling. 3-D geological modelling is being undertaken at T1 based on the 21 drill holes completed to date and follow- up drilling will be planned to target mineralisation in the down plunge extent. One hole has been completed into target T5 (EPDD025, with assay results expected in late March). One hole is planned to be drilled into porphyry target T4 in Second Quarter 2023. Tituana Epithermal Gold Targets preliminary results: Several epithermal gold targets have also been defined within the El Palmar concession, with the highest priority being the Tituana target. Three drill holes have now been completed and assay results are expected in late March. Holes 1 and 3 have intersected an epithermal system with mineralisation. The Tituana target is located on a NNE-trending structure, which may link to the south to the main El Palmar porphyry system a common scenario in porphyry and epithermal systems. The target exhibits coincident zinc and arsenic anomalies in soil sampling. Trenching has returned results of up to 6.7g/t gold. Rock chip sampling has yielded a >85m-long (and open) zone from which 101 surface samples averaged 1.2 g/t Au, 25 g/t Ag and 0.16% Cu, with peak values for these elements being 6.47 g/t Au, 225g/t Ag and 0.78% Cu. Duyuru • Jan 19
Sunstone Metals Ltd Announce the Discovery from Drilling Undertaken in December 2022 of A Well Mineralised Gold-Copper Porphyry System At the Limon Target Within the Bramaderos Project in Southern Ecuador Sunstone Metals Ltd. announce the discovery from drilling undertaken in December 2022 of a well mineralised gold-copper porphyry system at the Limon target within the Bramaderos project in southern Ecuador. The Limon target area is located 2.7km north-east of the Brama-Alba gold-copper deposit, which hosts a porphyry Resource of 2.7Moz AuEq. This discovery reinforces the concept of multiple gold-copper porphyry systems within the 50km2 Bramaderos concession and highlights the potential for significant growth of mineral resources at higher grades. The scale of the Limon alteration system and coherency of geochemical anomalism suggests a large and/or multiple porphyry centers within and below the 1.5 x 1km area of surface alteration. On this basis exploration at Limon is progressing on 3 fronts: Current drilling on the high sulphidation targets located in the NE portion of Limon. This is following up previous drilling that returned 15.4m at 0.10g/t gold, 0.42% copper, and 2.3g/t silver from 57.8m in LMDD004, and 128m at 0.18 g/t gold from 3.5m in LMDD006. Planning for follow-up to hole LMDD010. Modelling of magnetics are suggesting a 300m plunge to a magnetic body that is likely related to the porphyry mineralisation. The magnetic body measures 100m x 100m x 300m and is connected to a larger magnetic feature at depth. Drill hole LMDD011 has been completed and intersected an intrusive breccia and marks the underside margin of the SW plunging target zone. Preparation for deeper drilling based on geological interpretations of a significant porphyry target, and as follow up to previous drilling that included results such as; 14m at 0.10g/t gold, 0.20% copper 0.4ppm molybdenum, and 1.7g/t silver in LMDD002 from 879.6m; 40m at 0.10g/t gold, 0.12% copper, and 19.4ppm molybdenum from 863.5m in LMDD004; and 21.8m at 0.11g/t gold, 0.12% copper, and 3.8g/t silver from 700m in LMDD007. The Bramaderos project straddles the Pan American highway, and is close to available hydroelectric power, supporting the economics of potential development opportunities. Ecuador sources 88% of its power from hydroelectricity and is ideally placed to participate in the global demand for clean energy sourced metals. The project is also supported by nearby commercial airports and significant cities (Loja, population 200,000) and has strong community support. At El Palmar, drilling of the first hole on the T5 target has just been competed, and the drill rig is now being mobilised to test the Tituana epithermal prospect while we await assays from drilling at T2 and T5. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. Independent Non-Executive Director Stephen Stroud was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. Independent Non-Executive Director Stephen Stroud was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
