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Stelar Metals Limited (ASX:SLB)

ALERT: Price-sensitive ASX Announcement for SLB
Current share price for SLB : $0.270 0.03 (12.50%)+
Announcement
Release
3 Aug 2026 10:29AM
Price at Release
$0.240
Full Release
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Summary
Stelar Metals Limited (ASX:SLB) announced a successful placement of 13,141,421 shares at an issue price of $0.20 each, raising approximately A$2.6 million. The funds will support the Hill of Leaders Tungsten Project in the Northern Territory and other exploration initiatives. The placement, managed by Taylor Collison Limited, signifies strong market interest in the project. The company plans to begin a maiden drill program shortly, aiming to explore the tungsten-bearing quartz vein system. This initiative comes at a time of high global demand for tungsten, particularly from Western sources, which strengthens the strategic value of the project.
Key Points
  • Stelar Metals Limited has announced a successful placement of 13,141,421 shares.
  • The placement is priced at $0.20 per share, raising approximately A$2.6 million.
  • Funds will be used for the Hill of Leaders Tungsten Project and other exploration activities.
  • The placement reflects market enthusiasm for the Hill of Leaders discovery opportunity.
  • Rig mobilisation for the maiden drill program is scheduled for August 2026.
  • The drill program aims to test the tungsten-bearing quartz vein system at depth.
  • Stephen Biggins, Executive Chair, highlights the strategic importance of the project.
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.