BGR joined Star’s register in last month’s $1.6M capital raise, clearly understanding the project’s potential against a backdrop of a booming gold market.
Star says it is wasting no time. It has the environmental approvals process underway – this is the longest lead item in the permitting process. The company aims to lock in these approvals within months.
The next item on the list will be to lock away a toll treating agreement with an existing mill in the region. That should not prove too difficult to achieve given Star’s impressive head grade of 2.28g/t to 2.52g/t gold, which is a quality feed for today’s producers.
The company also has continued exploration drill testing planned for later this year, targeting high-grade gold lodes identified in a detailed desktop review. Should the program hang more gold resources together well, an enlarged pit design could bring an additional 16,000 ounces into play, further sweetening the pot.
Industry peers, such as Auric Mining and Horizon Minerals, have unlocked stranded deposits on existing mining leases through toll treating, which has no doubt played a role in Star’s recent change of strategy. With MEGA’s backing and gold prices touching all-time highs, Star could be well in line to make plenty of hay while the sun shines, potentially as soon as next year.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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