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STELLAR RESOURCES LIMITED — Capital/Financing Update 2015
Oct 18, 2015
65860_rns_2015-10-18_63dc0021-7dfc-42de-974c-667c71d37897.pdf
Capital/Financing Update
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19 October 2015
R&D Tax Incentive Claim
- Receipt of A$353k R&D Tax Incentive from the Australian Taxation Office
Issued Capital Shares: 300,227,775 Share Price: A$0.03 Market Cap: A$9.0million
Commodity Tin Price: US$15,960/t Exchange Rate US$ 0.73c
| Main ShareholdersEuropean Investors | 26.0% |
|---|---|
| Capetown SA | 20.8% |
| Resource Capital Fund | 12.0% |
- Funds to be applied directly to advancing Stellar’s flagship Heemskirk tin project
Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company”) is pleased to advise that it has received $352,876.95 (before costs) from the Australian Taxation Office in respect to an R&D Tax Incentive Claim for the 2014/15 financial year.
The R&D tax incentive receipt adds to a well-funded balance sheet which held a cash balance of $2.2 million as at 30 June 2015.
The funds shall be applied to advancing the Heemskirk tin project into a definitive feasibility study (DFS). The critical next steps for a DFS were outlined in an ASX release on 23 September 2015, “Substantial increase in Heemskirk tin NPV”.
Board & Management Phillip G Harman Non-Executive Chairman
Peter G Blight Managing Director
Miguel Lopez de Letona Non-Executive Director
Thomas H Whiting Non-Executive Director
Markus Elsasser Non-Executive Director
Christina R Kemp Company Secretary
For further details please contact:
Peter Blight Managing Director Stellar Resources Limited Tel: 03 9618 2540 Email: [email protected]
or visit our Website at: http://www.stellarresources.com.au
ASX Code: SRZ
About Stellar:
ABN 96 108 758 961 Level 17, 530 Collins Street Melbourne Victoria 3000 Australia
Stellar Resources (SRZ) is an exploration and development company with assets in Tasmania and South Australia. The company is rapidly advancing its high-grade Heemskirk Tin Project, located near Zeehan in Tasmania, and plans to become Australia’s second largest producer of tin.
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Telephone +61 3 9618 2540 Facsimile +61 3 9649 7200