Sunstone Metals Limited (ASX:STM) today announced the retraction of its Bramaderos Gold-Copper Project Scoping Study and related presentation, initially released on 21 April 2026. Sunstone Metals is an Australian resource company focused on exploring and developing large-scale copper-gold porphyry deposits. The company stated that the retraction specifically concerns forward-looking statements within the study, namely production targets and forecast financial information. This decision follows consultation with the ASX, which advised that Sunstone lacked a reasonable basis for these statements due to the significant proportion of Inferred resources included in the production target for the life of mine.
Consequently, Sunstone Metals has cautioned investors against relying on the retracted Scoping Study announcements as a basis for investment decisions. The company reiterated that all production targets and forecast financial information contained within those documents are now withdrawn. Importantly, other material assumptions detailed in the original Scoping Study announcement remain unaffected by this retraction, providing some continuity regarding other aspects of the project’s framework.
Despite the retraction, Sunstone Metals expressed confidence in the Bramaderos ore bodies, describing them as porphyry deposits characterised by continuous mineralisation over large volumes. The company highlighted the high potential for converting Inferred Resources to Indicated Resources due to the consistent geometry and predictability of grade distribution, along with the absence of significant structural offsets. Given that project viability was satisfied with only Indicated material, Sunstone plans to commence optioneering studies in 2026/27, alongside infill drilling aimed at upgrading the resource classification. The company is currently conducting drilling at Copete and Porotillo and anticipates an updated Bramaderos Mineral Resources Estimate later in calendar year 2026.
