Sunshine Metals (ASX:SHN) completed its acquisition of the Mt Moss operation in north Queensland for AU$18 million in cash, including AU$8 million paid upfront and AU$10 million in deferred consideration, according to a Thursday filing with the Australian bourse.

The company said engineering and design work for a Mt Moss restart is advancing, with a plant design scheduled for completion in August.

Advanced project financing discussions are also underway to fund construction, with plant refurbishment, construction, and permitting remain on track to support first gold processing from the Liontown site in mid-2027, Sunshine Metals said.

Meanwhile, preparations for drilling at the Sybil gold project are almost complete ahead of a planned drilling start this month.