on Sun Peak Metals Corp. (CVE:PEAK)
Sun Peak Updates on Shire Project Amid Regional Suspension
Sun Peak Metals Corp. has announced an update regarding its Shire VMS and Gold Project in Ethiopia. The company invoked a force majeure declaration due to the suspension of mining activities by the Interim Regional Administration of Tigray. This declaration, effective retroactively from March 2025, impacts all six exploration licenses within the project. Ezana Mining Development plc, Sun Peak's joint venture partner, has acknowledged the notification.
The suspension aims to curb illegal mining activities. While Sun Peak's operations are currently limited to exploration, they support the measures and have suspended all fieldwork. Social and community engagement programs continue unaffected.
Greg Davis, Sun Peak’s President & CEO, emphasized the importance of maintaining their exploration licenses and deferring expenditures until resuming field activities. The company remains committed to the Shire Project and is also exploring other high-potential global opportunities to enhance shareholder value.
R. H.
Copyright © 2025 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Sun Peak Metals Corp. news