InvestSMART

Star Minerals Limited (ASX:SMS)

ALERT: Price-sensitive ASX Announcement for SMS
Current share price for SMS : $0.050 0 (0%)+
Announcement
Release
30 Oct 2025 8:24AM
Price at Release
$0.050
Full Release
download
Summary
Star Minerals Limited reported its activities for the quarter ending 30 September 2025, highlighting significant progress in its Tumblegum South Gold Project located in Western Australia. The company completed 38 reverse circulation drill holes, revealing substantial gold mineralization that enhances the project's resource estimate accuracy. The Tumblegum South project's updated scoping study projects a free cash flow between A$9.4M and A$19.6M at gold prices ranging from A$3,000 to A$3,800/oz. Star Minerals aims to start production by early 2026 after recent successful fundraising efforts, including a $1.5 million placement post-quarter. The company's cash position stood at $428k at quarter-end. Star Minerals also submitted a mining proposal and a Native Vegetation Clearing Permit application as part of its project development efforts.
Key Points
  • Tumblegum South Gold Project located 40km south of Meekatharra.
  • 38 RC drill holes completed, revealing significant gold mineralization.
  • Project's updated scoping study shows free cash flow between A$9.4M and A$19.6M.
  • Gold prices anticipated in the range of A$3,000 to A$3,800/oz.
  • Production expected to commence in early 2026.
  • Cash position at quarter-end was $428k.
  • $1.5 million raised via placement after quarter end.
  • Mining proposal and Native Vegetation Clearing Permit submitted.
  • Bain Global Resources became a substantial shareholder.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.