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SLB - STELAR METALS LIMITED


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Stelar Metals Ltd (SLB) is a mineral exploration company that has assembled a range of copper and zinc metal exploration projects in order to meet the demand from the technology, battery and renewable energy markets as the world moves towards a low emission future.

Stelar Metals has projects covering three important and prospective geological domains in South Australia; the Gawler Craton, Stuart Shelf and Adelaide Fold Belt. The key projects include:

Evelyn Dam Project (EL 5792) ... covers 134 km2 about 50 km south of Woomera in South Australia. The project area is underlain by Palaeoproterozoic to Mesoproterozoic basement, prospective for Olympic Dam style iron oxide copper gold (IOCG) mineralisation;

Linda Zinc Project (EL 6263) ... based in the Flinders Ranges which covers 190 km2. The project is underlain by Neoproterozoic to early Cambrian sedimentary rocks. Stelar considers that this area is prospective for MVT and Beltana/ Kipushi type zinc lead mineralisation as well as Zambian style copper mineralisation;

Torrens Project (EL 6572 & EL 6264) ... Stelar holds about 1,200 km2 in two tenements (Bills Lookout and West Well), at the north end of Lake Torrens, about 40 km from Olympic Dam. Stelar considers that Mesoproterozoic basement of the project area is prospective for IOCG and additionally sediment hosted copper mineralisation in the Adelaidean cover sequences;

Barratta Project (ELA 2021/00037: Holowilena) ... is underlain by Adelaidean rocks of the Flinders Ranges. The Adelaidean sequence shares important geological characteristics with the Central African Copper belt. Stelar recognises the potential for Zambian style copper mineralisation (SHCD) as well as diapir hosted mineralisation (Beltana/ Kipushi type); and

Gunson Project (ELA 2021/00073: Pernatty) ... covering two areas, one neighbouring the Mount Gunson mine and the other north of Island Lagoon. The section of the ELA beside Mount Gunson may be prospective for extensions of the Mount Gunson mineralisation as well as mineralisation hosted in the Tapley Hill Formation (THF).

Listing date 18 March 2022 12:00 PM AEDT ##
Company contact details

https://stelarmetals.com.au/

Principal Activities Mining exploration
   
Issue Price AUD0.20
Issue Type Ordinary Fully Paid Shares
Security code SLB
Capital to be Raised $7,000,000
Expected offer close date 18 February 2022
Underwriter Not underwritten. Cadmon Advisory Pty Ltd (Lead Manager)
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  • 2 weeks later...

Stelar got off to a slow start, opening around 18c for the first week. Then a bit of a run up as high as 34c on 28/3. Has trimmed back to 28c in the last couple of days

The run higher generated a Query from the ASX, on which little light was shed for the rise, apart from:

Quote

The Company is aware that on 25 March 2022, its Non-Executive Chairman, Stephen Biggins, announced his intention to step down as managing director of Core Lithium Ltd (ASX:CXO) before the end of 2022. There have been several media releases following this announcement.
The Company does not have any other explanation for the recent trading in its securities
.

 

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