Top Page
East Star Resources
(LSE:EST)
East Star Resources (EST) vs. iShares MSCI United Kingdom ETF (EWC)
East Star Resources Business Overview & Revenue Model
East Star Resources Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -30.00K | -31.00K | -10.00K | -9.00K | 0.00 | 0.00 |
| EBITDA | -1.84M | -1.07M | -514.00K | -3.10M | -394.94K | 0.00 |
| Net Income | -1.87M | -1.10M | -1.53M | -3.10M | -421.21K | 0.00 |
Balance Sheet | ||||||
| Total Assets | 3.33M | 3.27M | 2.93M | 3.94M | 1.94M | 60.00K |
| Cash, Cash Equivalents and Short-Term Investments | 737.00K | 678.00K | 635.00K | 1.46M | 1.25M | 0.00 |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 840.00K | 0.00 |
| Total Liabilities | 83.00K | 116.00K | 115.00K | 127.00K | 139.11K | 0.00 |
| Stockholders Equity | 3.25M | 3.15M | 2.81M | 3.81M | 1.80M | 60.00K |
Cash Flow | ||||||
| Free Cash Flow | -1.00M | -576.00K | -1.39M | -1.57M | -436.80K | 0.00 |
| Operating Cash Flow | -971.00K | -543.00K | -501.00K | -117.00K | -436.77K | 0.00 |
| Investing Cash Flow | -555.00K | -611.00K | -890.00K | -1.44M | -511.08K | 0.00 |
| Financing Cash Flow | 1.72M | 1.14M | 525.00K | 2.98M | 2.20M | 0.00 |
East Star Resources Peers Comparison
East Star Resources Corporate Events
East Star Resources has reported encouraging drill results from its Verkhuba copper deposit in Kazakhstan, confirming deep zinc and copper mineralisation and identifying extensions of shallow mineralisation to the north. The 2025 programme tightened drill spacing in the central deep orebody, intersecting significant intervals such as 17.9 metres grading 0.66% zinc and 0.10% copper, and revealed structural faulting that will require further infill drilling. Shallow drilling returned one notable intercept of 2 metres at 0.93% zinc, 0.08% copper and 0.17% lead, but also highlighted the need for additional work to understand controls on near-surface mineralisation. The results refine Verkhuba’s geological model and have helped the company and its joint-venture partner Xinhai define study areas for 2026, with upcoming work to focus on shallower resources and a ground EM survey to assess the potential for undiscovered massive sulphides, moving the project closer to potential development and a future mining licence application.
East Star Resources has received warrant exercise notices for 25,590,545 new ordinary shares at £0.03 per share, raising gross proceeds of approximately £767,716. The new shares are expected to be admitted to the standard segment of the Official List and to trading on the London Stock Exchange’s main market around 6 January 2026, increasing the company’s issued share capital to 475,175,080 ordinary shares and providing additional funding as it advances its copper and gold exploration and development projects in Kazakhstan, including its joint ventures and drill-ready targets.
East Star Resources has reported drilling results from its Rulikha North and Talovskoye West volcanogenic massive sulphide (VMS) targets in eastern Kazakhstan, confirming mineralisation within the expected host rocks and strengthening its geological model for the area. At Rulikha North, a 400 m drill hole intersected 120 m of disseminated sulphides, including a 90 m interval with more than 20% pyrite, plus copper-, zinc- and lead-bearing stringer zones that define a 1.5 x 1.0 km hydrothermal alteration cell typical of systems proximal to a massive sulphide ore body. Although the interpreted source of the sulphides was not yet hit, management views the results as validation of a large, fertile system and is planning further work, including ground electromagnetic surveys and follow-up drilling in 2026, as part of its broader East Region VMS strategy. At Talovskoye West, a single hole intersected volcaniclastic and breccia lithologies with minor alteration and a short mineralised interval grading in zinc, lead and copper, leaving the chargeability anomaly unresolved but still considered prospective, with additional geophysical work required to refine targets. The update underlines East Star’s belief that its VMS portfolio is beginning to yield encouraging results that can ultimately be monetised, complementing its existing Verkhuba development joint venture and reinforcing its positioning in a historically productive but underexplored Kazakh mining district.
East Star Resources announced an upcoming investor webcast to discuss its recent strategic initiatives, including a $25 million gold exploration joint venture with Endeavour Exploration Limited and a $65 million farm-in agreement to advance the Verkhuba Copper Deposit. These developments are poised to enhance East Star’s operational capabilities and strengthen its position in the Kazakhstan mining sector, offering potential growth opportunities for stakeholders.
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.
East Star Resources announced a strategic investment of £1.8 million from Endeavour Mining, a leading global gold producer. This investment, which includes a convertible loan note, will fund East Star’s exploration programs in Kazakhstan and positions the company to accelerate its gold and copper strategies. Endeavour’s involvement as a shareholder and exploration partner enhances East Star’s industry positioning and reflects the significant exploration opportunities in Kazakhstan.
East Star Resources Plc is in advanced discussions for a potential joint venture regarding the Verkhuba Copper Deposit in Kazakhstan. The deal, if finalized, would involve a partner with experience in mine and plant construction, potentially enhancing East Star’s operational capabilities and market positioning in the region.
East Star Resources Plc has been awarded two new exploration licenses in the Balkash-Ili Arc in Kazakhstan, targeting copper porphyry deposits. The Piket and Judzha projects show promising geological features, with significant alteration systems and geochemical anomalies indicating potential for copper and gold deposits. The acquisition of these licenses, outside of their joint venture with Endeavour Mining, positions East Star to enhance its exploration portfolio and potentially discover significant mineral resources in the region.
East Star Resources has announced an Independent JORC-Compliant Exploration Target for the Rulikha Deposit in Kazakhstan, with an upper limit estimate of 23 million tonnes at 2.4% copper equivalent. This deposit could potentially contain over 550,000 tonnes of copper, significantly enhancing the company’s copper inventory. The announcement highlights the near-surface, high-grade copper, multiple payable metals, and excellent infrastructure, although challenges such as water and environmental approvals remain. If converted to a JORC resource, Rulikha could triple East Star’s copper inventory, indicating a robust operation and potential shared benefits with local communities.
East Star Resources has entered a strategic joint venture agreement with Endeavour Mining to explore and develop gold projects in Kazakhstan. This partnership allows Endeavour to earn up to an 80% interest in the joint venture through staged investments, while East Star retains a 20% stake and manages the initial phase. The collaboration is seen as a significant milestone for East Star, enhancing its exploration program and potentially unlocking substantial value for stakeholders.
East Star Resources Plc has been awarded a new exploration licence at the Rulikha Deposit in Kazakhstan, covering the remaining part of an induced-polarisation anomaly. This acquisition allows East Star to fully own the anomaly and proceed with further exploration, leveraging historical drilling data to assess economic viability. The new licence adds a second Soviet-era deposit to East Star’s assets, enhancing its VMS exploration opportunities. Despite potential permitting challenges due to the site’s proximity to a settlement, the deposit’s location near existing infrastructure could facilitate economic extraction, benefiting stakeholders and strengthening East Star’s position in the region.
East Star Resources Plc has announced an extension of the expiry date for 35,199,667 warrants, initially set to expire on 15 October 2025, now extended to 31 December 2025. This extension provides stakeholders with additional time to exercise their warrants, potentially impacting the company’s financial strategy and investor relations.