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ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2021
Feb 7, 2021
64878_rns_2021-02-07_f39883d8-4d36-46c4-b7f8-0860e78c6c89.pdf
Capital/Financing Update
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ABN 39 151 155 207
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8 February 2021
ASX ANNOUNCEMENT
Munda Gold Project Milestone Payments
Estrella Resources Ltd ( ASX: ESR ) (‘ Estrella’ or ‘the Company’ ) is pleased to advise that the deferred consideration milestones pursuant to the sale of the Munda Gold Project (refer ASX announcement 10 September 2020) have been met following a resource upgrade by the new owner, Auric Mining Limited (ASX: AWJ). In accordance with the tenement sale agreement, Estrella will receive $650,000 (ex GST) in milestone payments which will take the total funds received from the sale of Munda Gold Project to $1,750,000 (ex GST) (excluding reimbursement funds received for termination of the existing royalty).
The Company expects to receive the milestone payments within the fortnight which will be applied to ESR’s current drilling program at the Carr Boyd Rocks Ni/Cu Project and for general working capital.
Estrella congratulates Auric on the successful closing of their IPO. We wish them well with their upcoming ASX listing and continued planned exploration and drilling at Munda.
ENDS
The Board of Estrella Resources Limited has authorised for this announcement to be released to ASX.
FURTHER INFORMATION CONTACT
Christopher J. Daws Managing Director Estrella Resources Limited [email protected]
Office Address London House, Level 11, 216 St Georges Terrace, PERTH WA 6000 Postal Address GPO Box 2517, PERTH WA 6831 Phone +61 8 9481 0389 Fax +61 8 9463 6103 Email [email protected]
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