DGR Global Limited (ASX: DGR) has announced a significant strategic investment in Sunstone Metals Limited (ASX: STM), acquiring a 10% shareholding through a placement of new shares. DGR Global’s business involves the creation of resource exploration development and mining companies, identifying projects with world-class discovery potential. The investment of AU$4,970,296 for 28,401,689 shares positions DGR as a cornerstone investor in Sunstone’s AU$9.94 million capital raise. This placement also grants DGR the right to nominate a director to the Sunstone Board, maintaining this right while holding 10% or more of Sunstone’s issued capital. Funds raised by Sunstone are earmarked to accelerate copper-gold exploration at its El Palmar–Verde Chico and Bramaderos Projects in Ecuador.
DGR’s strategic move aligns with its objective of supporting high-quality resource projects with exceptional geological potential. The company brings over 14 years of direct experience in the discovery and advancement of major copper-gold porphyry systems in Ecuador, notably through its prior involvement with SolGold plc and the Cascabel project. This extensive expertise, developed within the Tier 1 Andean Copper belt, is expected to provide substantial technical and strategic oversight to Sunstone’s accelerated exploration efforts in the mineral-rich nation.
Sunstone Metals’ portfolio includes the El Palmar copper-gold porphyry project on the highly prospective Toachi Fault in northern Ecuador, alongside the Bramaderos gold-copper porphyry cluster in the south, which already boasts a Mineral Resource of approximately 3.6 million ounces of gold equivalent. DGR Global CEO & Managing Director Nick Mather expressed confidence in the investment, stating, “DGR believes that Sunstone holds the potential to define another world-class copper-gold porphyry asset in Ecuador. The Toachi Fault trend in northern Ecuador has already demonstrated its capacity to host world-class copper-gold porphyry deposits.” DGR anticipates making a valuable contribution to Sunstone’s exploration strategy, aiming to unlock further potential and deliver long-term shareholder value.
