Stellar Resources (SRZ) Q4 2024 TU earnings summary

Executive summary

• Advanced the Heemskirk Tin Project with commencement of a 24-hole, 9,500m diamond drilling program focused on upgrading resources and supporting a Pre-Feasibility Study.

• Raised $10 million via placement, with strong institutional support, to accelerate project development.

• Maintained a robust cash position of $10.4 million at quarter end, with an additional $2.5 million pending shareholder approval.

Financial highlights

• Cash and cash equivalents at 30 June 2024 totaled $10.4 million, up from $3.2 million in the previous quarter.

• Net cash used in operating activities for the quarter was $580k, with exploration and evaluation expenditure at $178k and employee, admin, and corporate costs at $423k.

• $10 million raised through equity placement, with $6.9 million from cornerstone investors.

Outlook and guidance

• Updated Scoping Study incorporating the 2023 Mineral Resource Estimate is expected to be released in Q3 2024.

• Ongoing drilling aims to upgrade resources to indicated category and provide technical inputs for mine design and processing.