Transcript:
I’m Simon Taylor, Non-Exec Chairman of Stellar Resources and I’m here to discuss our recent placement that we’ve just announced.
We’ve raised $3.2 million, a great outcome at a 14% premium for the last traded share price.
And we welcome Nero Resource Funds as a cornerstone investor. As part of that placement, we took over $2 million of the funding.
It’s a great achievement for the company in a difficult market for juniors. We now have over $4 million in the bank and will now be to help us continue advancing our Tasmanian projects, of which our highlight is the Heemskirk Tin project.
Look, a fantastic asset. It’s the highest-grade undeveloped tin project in Australia and the third highest globally.
The resource there is currently 7.48Mt @ 1.04% Sn (77,872t contained tin).
Interestingly there, the resource itself, about 50%, is in the indicated category. And what we’ll be doing with this funding is looking to move more of the inferred resource into the indicated category and advancing our mining studies. A great asset.
We’re looking forward to doing some more drilling there. Tin, as you know, is a global commodity, very important in decarbonisation of the world. Its source is unreliable, mainly from non-tiered countries such as Myanmar and Indonesia.
And we really look forward to advancing the project. We also have a very interesting polymetallic project in eastern Tasmania where we made a discovery last year called North Scamander.
And we’ll also be looking forward to putting some more holes into that.
So the nutshell is we’ve raised $3.2 million at a premium today. We’ve got a great cornerstone investor come on the register.
We’re looking forward to updating shareholders as we advance our projects this year.
