Stellar Resources Limited (AU:SRZ) has released an update.
Stellar Resources Limited has successfully raised $10 million through a share placement to accelerate drilling and feasibility studies at its Heemskirk Tin Project, which boasts the highest-grade undeveloped tin resource in Australia. The placement, priced at a premium to Stellar’s recent VWAP, saw significant investment from institutional investors Paradice Fund and Regal Funds Management, bolstering Stellar’s cash on hand to approximately $14 million. This financial boost comes amid a 51% surge in tin prices since late 2023, positioning the company to capitalize on the expected tin deficit.
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