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2026-11-06
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Stellar Resources Limited

PFS Developer · Tin · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.275
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$93.5M
EV
A$63.4M
Cash
A$30.1M
Debt
A$0
1 newer ASX announcement not yet reflected in this valuation

Portfolio detail

Assets

5 assets

Core asset

Heemskirk Tin Project

Australia

PFS Developer100% ownedTinCopperLeadZinc

PFS-stage underground tin development near Zeehan; PFS reporting was targeted for Q3 2026, with an expanded 2026 resource, mining-lease tenure, >70% recovery pathway and no ore reserve yet.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
NPVA$75M8% discount
IRR33%Published return
Initial capexA$71MPublished capital estimate
Operating cost18,260USD per tonne recovered tin AISC

Post-tax NPV8 and pre-tax IRR from the issuer's base case at US$28,000/t tin and 0.67 AUD:USD; ±35% scoping accuracy.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIndicated8.3M tonnes0.87% Sn; 71,930 tonnes contained tinTin2026-07-02
Mineral ResourceInferred5M tonnes0.86% Sn; 43,400 tonnes contained tinTin2026-07-02
Tenements6
ml2023pmGranted5.6 square kilometres · No expiry supplied
ml2m2014Granted2.78 square kilometres · No expiry supplied
ml2040pmGranted0.06 square kilometres · No expiry supplied
rl51997Granted1 square kilometres · No expiry supplied
ml2m2026Application2.69 square kilometres · No expiry supplied
el132018Granted8 square kilometres · No expiry supplied
Milestones1
  1. Report Heemskirk prefeasibility study

    Pending · High materiality

Permits & approvals2
PermitJurisdictionStatusExpiryCritical path
Core Heemskirk mining leaseTasmania, AustraliaGranted—No
Comstock-adjacent tailings area mining licenceTasmania, AustraliaPending—Yes
Economic studies1
StudyStageStatusDateSummary
Updated Heemskirk Tin Scoping StudyScoping StudyCurrent2024-09-03Preliminary ±35% 350 ktpa underground case with 12-year life, A$71 million development capital and post-tax NPV8 of A$75 million at US$28,000/t tin; PFS was not yet published by cutoff.

Other

St Dizier Satellite Deposit

Australia

Resource Stage100% ownedTin

Open-pit satellite tin resource near Heemskirk; excluded from the current PFS with further work deferred until after Heemskirk development.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceTotal Mineral Resource2.3M tonnes0.61% Sn; 13,800 tonnes contained tinTin2014-03-12
Tenements1
ml10m2017Granted1.4 square kilometres · No expiry supplied
Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
St Dizier mining leaseTasmania, AustraliaGranted—No

Other

Granite Tor Project

Australia

Early Explorer100% ownedTinTungstenRare Earths

Large early-stage licence with historic tin, tungsten and rare-earth geochemical anomalies; acquisition completed in February 2026 and no mineral resource is reported.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Tenements1
el62023Granted122 square kilometres · No expiry supplied

Other

East Renison Project

Australia

Early Explorer100% ownedTin

Regional tin exploration ground southeast of the Renison mine comprising the granted Concert Creek and Ringville licences; no mineral resource is reported.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Tenements2
el292022Granted15 square kilometres · No expiry supplied
el92025Granted19 square kilometres · No expiry supplied

Other

Northeast Tasmania and Scamander Projects

Australia

Discovery Drill Stage100% ownedSilverTinZincLeadTungstenOthers

Polymetallic exploration portfolio including the North Scamander silver-tin-zinc-lead-indium discovery and regional tungsten and bismuth prospects; no mineral resource is reported.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Tenements5
el122020Granted12 square kilometres · No expiry supplied
el152020Granted55 square kilometres · No expiry supplied
el162020Granted96 square kilometres · No expiry supplied
el192020Granted143 square kilometres · No expiry supplied
el112020Granted29 square kilometres · No expiry supplied