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Stellar Resources Ltd.
Summary
| Project: | Heemskirk | |
|---|---|---|
| Deposit: | St Dizier | |
| Location: | Australia | |
| Commodities: | Tin | |
| Date: | 1/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-1-2019: Stellar Resources Ltd. announces a Scoping Study report for its St Dizier deposit at the Heemskirk project. Scoping Study for St Dizier results incl. NPV of A $10.4M (10%), IRR of 166%, 30mo LOM. The Directors of Stellar Resources Limited (ASX: | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: R. K. Hazeldene (Internal) | |
| ABSTRACT: | The Directors of Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company) are pleased to advise that the Tasmanian Minister for Resources has granted Mining Lease ML 10M/2017 over the St Dizier tin deposit. The mining lease provides Stellar with unencumbered title to extract tin and other metals from St Dizier for an initial period of 6 years. St Dizier increases the range of development options for the Heemskirk Tin Project. An internal Scoping Study undertaken in 2015 to support the St Dizier Mining Lease application has recently been updated to reflect the current tin price and current exchange rates. All other assumptions remain the same as the 2015 study. The updated St Dizier Scoping Study valuation has resulted in a base case NPV 10%, at current tin prices (US$20,000/t), determined to an accuracy of ±35%, of approximately A$10.4m, an IRR of approximately 166% and a payback period of approximately 8 months. The project has a low capital investment estimated at A$ 3.8m and can be bought into production within 3 months of receiving approvals providing flexibility to ensure that it is developed in a supportive tin price environment. | |
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