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Stellar Resources Limited ( (AU:SRZ) ) has shared an announcement.
Stellar Resources Limited has signed a non-binding Memorandum of Understanding (MOU) with Hartree MI UK Limited, Allegiance Mining Pty Ltd, and Avebury (Operating) Pty Ltd to explore the potential use of the Avebury Nickel Mine and Plant for processing ore from its Heemskirk Tin Project. This agreement allows Stellar to consider various options, including plant modifications for tin processing, toll treating, or acquiring the project. The MOU provides a six-month period for evaluation, which could significantly impact Stellar’s operations by leveraging existing infrastructure to advance its Prefeasibility Study and potentially expedite the development of the Heemskirk project.
More about Stellar Resources Limited
Stellar Resources Limited operates in the mining industry, focusing on the development of tin projects. The company’s primary project is the Heemskirk Tin Project located in Tasmania, Australia. Stellar aims to become a significant producer of tin, with a target of producing 3,000 to 3,500 tonnes per annum over the first 6 to 10 years of production.
YTD Price Performance: 12.50%
Average Trading Volume: 2,220,815
Technical Sentiment Signal: Buy
Current Market Cap: A$37.44M
Find detailed analytics on SRZ stock on TipRanks’ Stock Analysis page.