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An announcement from East Star Resources ( (GB:EST) ) is now available.
East Star Resources Plc has entered into a joint venture agreement with Hong Kong Xinhai Mining Services Limited to develop the Verkhuba Copper Deposit in Kazakhstan. Xinhai will invest approximately US$65 million in the project, advancing it through five stages to production, with East Star retaining a 30% stake. This partnership is expected to accelerate the development of Verkhuba without further financial burden on East Star, allowing the company to focus on other exploration opportunities. The agreement underscores East Star’s strategic focus on expanding its copper and gold projects in Kazakhstan, potentially enhancing its market position and offering significant benefits to stakeholders.
More about East Star Resources
East Star Resources Plc is a Kazakhstan-focused company specializing in the exploration and development of copper and gold. The company is involved in multiple exploration strategies, including a joint venture with Hong Kong Xinhai Mining Services Limited to develop the Verkhuba Deposit, as well as other significant exploration targets in the region.
Average Trading Volume: 2,791,749
Technical Sentiment Signal: Buy
Current Market Cap: £13.26M
Learn more about EST stock on TipRanks’ Stock Analysis page.