The company has a gun geologist leading the search for gold, copper, molybdenum, silver and rare earths in a state that's yielded plenty of big deposits but which has only had a fraction of the exploration spend seen in Western Australia over the past 20 years.

The numbers quoted by Davis were A$28.3 billion spent in WA versus $4.4 billion in Queensland.

Sunshine is led by Damien Keys, who most recently found the high-grade Penny West gold deposit (when at Spectrum), that was subsequently acquired by miner Ramelius.

Keys did a PhD in structural geology in Queensland and is a geologist that's "certainly up there with the best of them", according to Davis.

Sunshine has drill result due this month and next from the Triumph gold prospect, with an initial resource due next month.

Drill results and key metallurgical work from the Titov copper-moly-silver prospect are due in the next couple of months, and more rare earth soil sampling at the Elphinstone prospect will begin next month.

Sunshine had cash at the end of December of $4.9 million.

Davis and other directors have backed themselves by investing $2.7 million and hold 27.3% of Sunshine.

At a 4.1c trading price this week Sunshine had an enterprise value of circa $18-19 million.