Sunrise Diamonds Share Discussion Threads

[pistolpete100] 25/11/2009 10:40

I was suspcious of the large buy yesterday - so another positive RNS follows. On the plus side we know the Barite is there so it does provide instant value, will be interesting to see how quickly they progress this

[tomboyb] 25/11/2009 10:38

9:56 am, November 25, 2009
Sunrise prospects for barite in Ireland


Mining company Sunrise Diamonds Plc (AIM: SDS) has been granted a prospecting licence for base metals, barite, silver, gold and platinum at a former mine near Bantry in County Cork.

Macclesfield-based Sunrise, headed by executive chairman Patrick Cheetham, said it was targeting the Derryginagh barite deposit for the production of high-value white "paint-grade" barite which is used as a mineral filler in paints and plastics and is currently worth between £195 and £220 per tonne in the UK.

The Derrryginagh mine was worked in the period 1864-1922, supplying white barite to the local paint industry but the barite deposits were drilled in the 1980s by Dresser Minerals International Inc.

Sunrise, which has previously concentrated on diamond exploration in Finland, said there was significant demand for white paint-grade barite in Europe but no major mine supply outside of India and China,with the latter now restricting exports because of growing internal demand.

It plans to collect samples of the barite for testing before undertaking further drilling.

[tomboyb] 25/11/2009 10:10

any views ? market makers cut limits to 250K online.

[tomboyb] 25/11/2009 09:56

news most definately flowing on this one. it looks like no other major mine outside India China. and significant demand from europe. gl.

for a market cap of 1.5 million

[tomboyb] 25/11/2009 09:47

a new prospect. a second new project the first being the de beers diamond mining prospect.

[tomboyb] 25/11/2009 09:38

There is a significant demand for white paint-grade barite in Europe but there
is no major mine supply outside of China and India. Consequently there is a
niche opportunity for a new European supplier as China's own internal demand
limits traditional exports. The price currently quoted for white paint-grade
barite is GBP195-220/tonne delivered to the UK.

[tomboyb] 25/11/2009 09:37

the news is flowing on this one.

TIDMSDS

RNS Number : 0501D
Sunrise Diamonds PLC
25 November 2009

?






www.sunrisediamonds.com
25 November 2009
PROSPECTING LICENCE FOR BARITE IN SW IRELAND


* Previous Drilling Encountered High-Value White Barite Mineralisation

* Market Opportunity For New European Producer of Paint-Grade Barite Filler

_______________________________________________________________________


Sunrise Diamonds plc ("Sunrise" or "the Company") is pleased to announce that it
has been granted a Prospecting Licence for base metals, barite, silver, gold and
platinum group elements near Bantry, County Cork, in the south-west of Ireland.


The Company is targeting the Derryginagh barite deposit for the production of
high-value white "paint-grade" barite for use as mineral filler in paints and
plastics. White paint-grade barite is the highest-value use for barite having
significant sales volumes. Off-white barite is used as a lower value mineral
filler and high volumes of low-grade barite are used as a weighting agent in
drilling mud in the oil and gas industry.


The Derrryginagh mine was worked in the period 1864-1922, supplying white barite
to the local paint industry. The mine workings extend over a strike length of
200m and to a maximum depth of 60m. In the 1970s the mine workings were
de-watered and mapped by a local company and in the 1980s four inclined holes
were drilled to intersect the barite vein at 100 meters below surface by Dresser
Minerals International Inc., which at that time was a major supplier of drilling
mud grade barite around the world.

All four Dresser holes intersected white barite over an average interpreted
"true" width of 2.4m and over a total strike length of 200m, with the vein being
open along strike and at depth.


There is a significant demand for white paint-grade barite in Europe but there
is no major mine supply outside of China and India. Consequently there is a
niche opportunity for a new European supplier as China's own internal demand
limits traditional exports. The price currently quoted for white paint-grade
barite is GBP195-220/tonne delivered to the UK.


The Company will collect samples of the barite mineralisation for metallurgical
characterisation and quality testing before undertaking further drilling and
economic evaluation.


The Derryginagh barite project is the second new project recently announced by
the Company as it seeks to broaden its geographical base and widen its commodity
interests which, until recently, have been focused on diamond exploration in
Finland.




Further information:


Patrick Cheetham, Sunrise Diamonds plc. Tel: [phone]. Mobile:
[phone]
Brett Miller/Gavin Burnell, Astaire Securities plc. Tel: [phone]




The information in this release has been compiled and reviewed by Mr. Patrick
Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM
Note for Mining and Oil & Gas Companies dated June 2009. Mr Cheetham is a Member
of the Institute of Materials, Minerals & Mining and also a member of the
Australasian Institute of Mining & Metallurgy.



This information is provided by RNS
The company news service from the London Stock Exchange
END

MSCBABLTMMTTMRL

[pistolpete100] 24/11/2009 10:54

250K looks pretty positive for a buy - hopefully we may start to get some more news regarding other projects - Does seem that PC is trying to get licenses in place in anticipation of an upturn of prices

[roomove] 05/11/2009 15:21

I hope the application is a success or the company will look pretty silly. I dont understand why they are releasing this news, if the areas past testing info is only just being released surely advertising the fact will only bring in other potential applicants? Why not wait to see how the application goes? Not sure how much it might cost but I dont think they have much cash so further dillution is quite possible. At least the company 'appear' to be doing something although there is no guaranteed upside even from here imho.

[arf dysg] 04/11/2009 17:29

5pongebob, it looks like a report about earlier tests carried out by de Beers, so SDS didn't do the tests themselves. Anyway, the diamond grade does look interesting, no matter who did the tests.

I don't think that getting the licence is a big hurdle. I don't see why it would be refused, especially as someone else (i.e. de Beers) has held a licence for that region in the past. If they wanted an exploration licence in downtown Sydney, that would be different.

The difficult bit comes next - maybe unearthing other de Beers data, but then possibly raising funds (issuing shares I guess) for more exploratory work. They could do a bigger sample of the Cue kimberlite and they could drill other targets to look for kimberlite.

[5pongebob] 04/11/2009 16:56

IMHO.......licence applied for so may take some time for approval but if they have been allowed to carry out these tests which have proved positive then it does seem quite promising.....I am no expert but in these situations companies do not tend to apply for licences willy nilly and then carry out tests which prove positive and then forget about it........I have taken the decision to get in at this early stage on the facts as they present themselves ......should anyone wish to await further clarification then that is a matter for them to decide upon....I personally cannot see them applying for a licence which they know can never be granted but if anyone else knows otherwise then I will gladly listen to any opinions.....as always DYOR and be lucky!!

[pistolpete100] 04/11/2009 16:20

750,000 shares at mid-price - buy or sell?? hmmmmmm

[roomove] 04/11/2009 14:23

Am I missing something here, the company has only put in an application for this area, its does not actually hold a licence? Any knowledge of other applications for said licenece? Might be worth checking out what the applications chances are before getting too carried away.

[5pongebob] 04/11/2009 11:28

arf....thanxx mate....cant see it being bad news and looks to have broke out on last rns........lest hope we get the next breakout.......had a little punt on it.......looks like I am not the only one and GL to all holders...

[arf dysg] 04/11/2009 11:25

No need to quote the whole announcement since it's already available right here on ADVFN.

Here's the interesting bit:
Using the figures above, diamond grade = 0.00379 / 0.064 carats/tonne

= 0.059 carats/tonne
= 5.9 cpht

Not bad for a shot in the dark. Also not bad for a sample of only 64kg. With the statistics of diamond distribution, a larger sample might find some bigger stones.

Probably profitable kimberlites are just around the corner.

[5pongebob] 04/11/2009 11:23

I take it you are a holder.....just cant work out how much these 13 diamonds are worth and what the potential of the site is...or more to the point ...what the market will think of it.....am getting offered 0.93 at present...

[tomboyb] 04/11/2009 11:21

could be significant.

Commenting today, Patrick Cheetham, Chairman of Sunrise said "These newly released results validates our belief that something of real interest was found by De Beers and our belief that their decision not to continue at Cue was more due to a change in strategy rather than the results of their exploration."

Further to its announcement of 29 October, Sunrise Diamonds plc ("Sunrise" or "the Company") is pleased to announce that newly released information confirms that the Cue 1 and Soapy Well kimberlites, on the Company's new licence application area in Western Australia, are diamondiferous.


if its good enough fro de beers.

[5pongebob] 04/11/2009 11:19

is this good

[metex] 02/11/2009 13:13

More Sunrise Diamonds commentary:

[arf dysg] 30/10/2009 09:00

tomboyb, there's a minor error in that article.

They say "They gained 0.18 per cent to 1p"

I think that should be "They gained 0.18p to 1p"

[iwillbe] 29/10/2009 20:25

Did a dummy buy for 1 million and had no probs. The speed it came through was startling. Made me a bit suspicious. Hope I don't regret not going through with it. Looks an interesting and respectable company.

[tomboyb] 29/10/2009 19:24

Sunrise Diamonds to explore Australian opportunities
OCTOBER 29, 2009

EXPLORATION firm Sunrise Diamonds, which is based in Cheshire, has announced plans to search for diamonds, gold and platinum group metals in Western Australia.

Sunrise, which has its headquarters in Macclesfield, said it had applied for a licence covering an area of 70sq km to the north west of the town of Cue.

Shares in Sunrise, which floated in June 2005 after being spun out of Tertiary Minerals, climbed more than 20 per cent after the announcement.

They gained 0.18 per cent to 1p, giving the business a market value of nearly £1.9m.

Sunrise, led by executive chairman Patrick Cheetham, said the Cue project was the first of several new ventures planned to broaden the company's geographical base and widen its commodity interests.

Until now, it has focused on diamond exploration in Finland.

[arf dysg] 29/10/2009 18:03

Thanks for that ramp.