Australian company Stellar Resources reports their Q1 2018 was on target to reach their June 2018 production goals. Stellar’s key asset is the 100 percent owned Heemskirk tin project located near Zeehan Tasmania.
Australian company Stellar Resources (SRZ: ASX) reports their Q1 was favourable and on target to reach their June 2018 production goals. Stellar has had all ML’s granted and secured 12-year tenure for the Heemskirk Tin Project. Stellar’s key asset is the 100 percent owned Heemskirk tin project located within the west-coast mining district near Zeehan Tasmania, where ore sorting results show 50 percent increase in head grade at 94 percent tin recovery. Additionally, the company has also completed the sampling of tailings and the pit floor at Mt. Razorback helping to bolster Q1 results. According to Stellar, Rio Tinto ranks tin number one in a survey of metals facing strong demand from new technologies – particularly electrical and energy storage uses. Export demand is expected to grow globally over the coming years as production in Indonesia and Myanmar decline.
As quoted in the press release:
“Stellar’s high grade Heemskirk Tin Project achieved important milestones in March quarter. Awarding of a third ML secured tenure for 12 years and demonstrated the state’s backing of Stellar. Excellent ore sorting results highlighted the opportunity for further cost optimization under the fast start development plan. And the addition of the Mt Razorback EL, with its historical tin production, added significant upside to Stellar’s Tasmanian tin assets,” said Peter Blight, Stellar Resources managing director.