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Star Minerals Ltd. ( (AU:SMS) ) has shared an update.
Star Minerals has kicked off mining activities at its Tumblegum South Gold Project, with contractor MEGA Resources completing the first drill-and-blast and beginning waste rock mining. Managing director Ashley Jones said the start of blasting and initial haulage marks a major operational milestone as the project transitions from development to the early stages of gold production.
The project’s updated production target forecasts output of 11.8koz to 15.9koz of gold from 167kt to 255kt of ore, with an estimated undiscounted cash surplus of A$9.4m to A$19.6m at gold prices between A$3,000 and A$3,800/oz. The company says the economics remain robust across a wide price range, underscoring Tumblegum South’s potential to generate strong free cash flow and strengthen Star Minerals’ position in the Australian junior gold sector.
More about Star Minerals Ltd.
Star Minerals Ltd. is an Australian gold developer focused on bringing its Tumblegum South Gold Project in Western Australia into production. The company has secured a Right to Mine Agreement and toll treatment arrangement, along with state mining approvals, positioning it to monetise a 616kt resource grading 2.28g/t Au through near-term, high-margin production.
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Technical Sentiment Signal: Buy
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