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Australia Investing
Stellar Resources Releases Q3 Results
Oct. 29, 2018 07:56AM PST
The Australian developer is moving ahead with resource exploration and targeting at its tin project in Tasmania.
Tin explorer Stellar Resources (ASX:SRZ) has released its third quarter results for 2018. The Australian developer is moving ahead with resource exploration and targeting at its tin project in Tasmania.
As quoted from the press release:
Highlights
- Preliminary internal costing of an exploration decline completed for the Heemskirk tin project
- Second tailings dam at Razorback identified for sampling
- New Montana Flats EL adds 3km of lateral exploration potential to the north of the Heemskirk tin deposits
Corporate
- Cash balance of $1.0m as at 30 September 2018 – expenditure rate of $0.2m expected in December quarter
- Strong tin demand growth in the solder sector outside of China is providing support for the market
Targets for December Quarter 2018
- Bulk sample and metallurgical test of Razorback tailings
- Historical data review and preliminary sampling at Montana Flats
- Completion of St Dizier ML assessment
Managing Director Peter Blight said “Stellar is continuing to build its tin exploration portfolio around the flagship Heemskirk Tin Project with low-cost acquisitions. The recently acquired Montana Flats EL is a strategic win for the company as it adds 3km of lateral exploration potential to the Heemskirk deposits. December quarter will also be an exciting period for the company as rain delayed sampling and exploration programs commence.”
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