In the February 2016 edition of Paydirt, Rhys Dickson reports that “Stellar Resources Ltd bucked the Tasmanian junior mining trend in 2015, steadfastly advancing its Heemskirk tin project.” He went on to say that “while a majority of its compatriots withdrew in the hope of better days to come, Stellar initiated a string of studies in a bid to increase Heemskirk’s appeal and to ultimately woo a JV partner for the project.”
The study of micro-structures in drill core by Teale and Associates combined with a report by IAMM Consulting on seismic data compiled by a previous explorer “not only confirmed Stellar’s suspicions that Heemskirk’s mineralisation persisted at depth, but provided the company a focus for resource drilling and future exploration.”
Rhys Dickson went on to say that “The last report to come across managing director Peter Blight’s desk in 2015 was by far the best” A PFS optimisation study bolstered Heemskirk’s NPV by 62% to $99 million, reduced its pre-production capital cost by 12.9% to $110 million and slashed its operating costs by 8.2% to $21,355/t tin.
“Stellar has added significant value to Heemskirk via multiple studies over the past two years”
Managing director Peter Blight was quoted in the article saying “we still think there are opportunities to sharpen the pencil when we get into the DFS. There is quite a bit to look forward to once we get the DFS process going.