Why did the Sunstone Metals (ASX:STM) share price slump 15% today?

why did the sunstone metals asxstm share price slump 15 today

Sumary of Why did the Sunstone Metals (ASX:STM) share price slump 15% today?:

  • The Sunstone Metals Ltd (ASX: STM) share price finished deeply in the red today, down 15.45% to 9.3 cents.
  • Below we look at the latest drilling update from the ASX resource explorer, which appears not to have sufficiently roused investor spirits following earlier positive reports that saw the Sunstone Metals share price rocketing last week.
  • The Sunstone Metals share price fell hard today despite the company reporting positive assays from its El Palmar deposit in Ecuador.
  • Sunstone said all the drill holes to date are mineralised from shallow depths.
  • Commenting on the results, Sunstone’s managing director Malcolm Norris said: This is a big system and has huge potential.
  • Speaking of the Bramaderos project, it was drill results from this site that look to have triggered a massive spike in the Sunstone share price last week.
  • Last Thursday, 18 November, the Sunstone Metals share price closed the day up by more than 50%.
  • Shares finished flat last Friday and gained another 10% on Monday.

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