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Stelar Metals Limited (ASX:SLB)

ALERT: Price-sensitive ASX Announcement for SLB
Current share price for SLB : $0.240 0.165 (220%)+
Announcement
Release
13 May 2026 8:24AM
Price at Release
$0.075
Full Release
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Summary
Stelar Metals Limited has announced a binding earn-in agreement to acquire 100% of the Hill of Leaders Tungsten Project in the Northern Territory, Australia. This strategic acquisition aligns with Stelar's expertise in critical minerals, given their past success with the Core Lithium Finniss Project. Tungsten is recognized as a critical mineral with surging prices due to geopolitical tensions. The Hill of Leaders has similar geology to the Hatches Creek Tungsten Deposit, and initial exploration has uncovered promising mineralization. Stelar plans to undertake a phased drilling program to further explore and define the project's potential. The acquisition includes a mix of cash and share payments to the vendor, F&H Brothers Metals Pty Ltd, who retains a 1% net smelter royalty.
Key Points
  • Stelar Metals Limited (ASX:SLB) enters binding earn-in agreement for 100% acquisition of Hill of Leaders Tungsten Project.
  • The project is located in Northern Territory, Australia, a strategic region for critical minerals.
  • Tungsten is classified as a critical mineral, with significant price increases due to geopolitical issues.
  • Stelar's management has prior success in critical minerals projects, notably Core Lithium's Finniss Project.
  • The Hill of Leaders Project has geological similarities to the Hatches Creek Tungsten Deposit.
  • Initial exploration results show promising tungsten and copper mineralization over a 2km strike.
  • Stelar plans phased Reverse Circulation (RC) drilling to assess mineralization.
  • Transaction terms include various share and cash options based on project milestones.
  • The Vendor, F&H Brothers Metals Pty Ltd, retains a 1% net smelter royalty.
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.