Sunrise Resources plc announced it would look for new partners after ending negotiations on a joint agreement for its CS pozzolan-perlite project in Nevada, USA.
TESTS
The company said that for a “protracted period” it had provided samples for commercial testing, held regular talks and discussed terms for a joint venture with a large cement and ready-mix company (CRMC).
Sunrise added it had passed all the CRMC’s testing programmes, including large scale grinding tests on a 500-ton bulk sample of run-of-mine pozzolan.
“This demonstrated the commercial application of the company’s high quality natural pozzolan as a substitute for fly ash and cement in concrete, both on a bench scale and in real-life concrete pours,” added the company in a statement.
But the company terminated further negotiations because the extended discussions had failed to reach a “satisfactory conclusion”.
CONFIDENT
Executive chairman Patrick Cheetham added that Sunrise was frustrated that the CRMC had not fully committed to the project.
“Our mine permits continue in force and we believe that the testwork carried out by the CRMC on CS natural pozzolan has materially increased the value of the project to the company and other interested parties.
“The board remains confident that a suitable partner will be secured for development of the CS project, and we will now concentrate on discussions with other parties currently testing samples and reviewing data on the project.”