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Star Minerals Ltd. ( (AU:SMS) ) just unveiled an update.
Star Minerals has satisfied the conditions of its Right to Mine Agreement for the Tumblegum South Gold Project after signing a toll gold milling deal with Catalyst Metals. With mining approval, a mining contract and a milling contract now in place, and grade control drilling completed, the company targets first-quarter 2026 for the start of mining, subject to timely receipt of a Native Vegetation Clearing Permit.
The Tumblegum South project hosts a 616,000-tonne mineral resource at 2.28 grams per tonne for 45,000 ounces of gold, underpinning an updated production target of up to 15,900 ounces and an estimated cash surplus of A$9.4 million to A$19.6 million at current gold prices. Management says the robust economics and strengthened project de-risking could position Star Minerals to capitalise on elevated gold prices and enhance returns for shareholders as it transitions into production.
The most recent analyst rating on (AU:SMS) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Star Minerals Ltd. stock, see the AU:SMS Stock Forecast page.
More about Star Minerals Ltd.
Star Minerals Ltd. is an Australian gold-focused explorer and developer centred on the Tumblegum South Gold Project in Western Australia. The company is advancing this deposit toward near-term production, supported by a Right to Mine Agreement, government mining approval and a toll treatment arrangement with Catalyst Metals to process mined ore.
Average Trading Volume: 1,327,739
Technical Sentiment Signal: Buy
See more insights into SMS stock on TipRanks’ Stock Analysis page.