For those interested, the best enunciation of their strategy i have yet to see is contained in The Hole Truth podcast Episode 66 which is available on YouTube.
Key strategic focus take-outs:
1. Limon - nothing new. As we know, they are working on continued drilling to establish a resource in 2025. Is pitched as a circa 900k to 1.7m oz "WA style" open pit opportunity. Stated that they need a further 5,000m to 10,000m of drilling to get to a sizeable maiden resource and then proceed into scoping study (within next 6 months).
2. Bramederos - again, nothing new. Focus is on Limon to generate free cash flow and then look to develop Bramederos.
There were quite a few snippets scattered throughout the podcast that suggest they also have potential partner interest in Limon and Bramederos - more so than maybe has been highlighted to date. Duffy said that they are interested in partners in Limon if that helps accelerate the process. Seems Duffy is intent on getting things happening if the partner with capital is there, rather than hold onto 100% of the asset.
3. El Palmar - stated that they were "actively in discussions with other groups to partner in El Palmar". Aim to sell down, but only after they get a MRE in place by "early next quarter" and "that (MRE) work has already started". Via a partner, STM want to end up "with a 20% to 30% share of a multi-billion $ project" which allows them to focus on Limon as their own project. This is clearly their immediate focus - get the MRE and do a deal on this asset to set them up in a stronger position to deal with Limon / Brama-Alba in whatever form presents (asset level or company level).
That was filmed at the RRS Gold Coast conference and very clearly lays out their strategic direction viz Limon, Bramederos and El Palmar. There is a clear plan demonstrated in the podcast (though it is hard to interpret from their most recent presentations - is there but you have to tease it out) and now that they have the funds to execute the first part (MRE for El Palmar). The key step is how well they can execute from here.
Link is below....
Episode 66 - Patrick Duffy, Managing Director of Sunstone Metals (ASX:STM) - YouTube
(20min delay)