Sunshine Metals has announced an updated Mining Study for an initial open-pit and underground mine at Liontown, within its Ravenswood Consolidated Project in North Queensland. The company said mining and environmental approvals are well advanced and early contractor engagement is under way to support a mid-2027 commencement, with mining planned to begin about two months before Mt Moss Mill commissioning to build start-up feed.
Under the study's base-case assumptions, Sunshine estimates gross revenue of about A$497.5 million, net operating cashflow after all capital of about A$179.8 million and an all-in sustaining cost of A$2,579 per ounce of gold. The study uses assumed metal prices of A$6,500 per ounce of gold and A$100 per ounce of silver.
Sunshine cautioned that the Mining Study is a preliminary technical and economic assessment and is not yet sufficient to support an Ore Reserve estimate. The production target includes 84% Measured and Indicated Resources and 16% Inferred Resources, and the company said there is no certainty the target will be realised.
Source: SHN official ASX announcement, 2026-09-21.
File image from earlier MES coverage: Sunshine advances Mt Moss refurbishment towards mid-2027 commissioning. Not an image of the current announcement.