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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

Funding, performance and ownership

Financials & Capital

As of 2026-06-30
Cash A$30.1M Finite
Debt A$0 Net cash A$30.1M
Basic shares 340M 2026-08-14
Runway 13.13 quarters A$30.135 million of cash plus term deposits divided by June-quarter operating and exploration outflow of A$2.295 million; the A$27 million term deposits are available on call even though Appendix 5B excludes them from item 4.6. The A$262,500 of August option exercise proceeds and subsequent expenditure are excluded because an updated cash statement was not accessible.

Liquidity

Financial position

The May placement materially strengthened study funding, but the June cash position predates subsequent expenditure and the FY2026 annual report released on 25 September was inaccessible for this run. Construction funding is not secured.

Capital structure

Ownership and dilution

Ordinary shares
340M
Fully diluted
355.8M

The 24 July consolidation established 339,148,591 ordinary shares, 7,250,000 options and 9,499,821 rights. An August Appendix 2A account records exercise of 875,000 options into ordinary shares and expiry of 125,000 more, leaving 340,023,591 ordinary shares and 6,250,000 options. Fully diluted shares add remaining options and rights without credit for unknown exercise proceeds; the August source is secondary pending primary filing verification.

Security classes3
ClassTypeQuantityStrikeExpiry
Post-consolidation ordinary fully paid sharesOrdinary Share340M——
Remaining post-consolidation options after 875,000 exercised and 125,000 expired in August 2026Option6.2M——
Post-consolidation employee and project-condition performance rightsPerformance Right9.5MA$0—
Company guidance1
MetricProjectPeriodLowHighStatus
PFS Reporting MilestoneheemskirkQ3 2026—— Q3 2026 target windowCurrent

Capital history

Capital events

3 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-08-14RaisingSrz Ordinary ShareA$262.5K875KA$0.3CompletedSecondary account of issuer Appendix 2A; 875,000 post-consolidation shares issued on option conversion.Max 875K · Period 2026-08-10 to 2026-08-14
2026-05-19RaisingA$150K1M—Completed—
2026-05-04Ann. 2026-04-30RaisingA$22.1M——Completed—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Partial · as of 2026-09-26

June quarterly and August presentation identify the Comstock licence application agreement, Metals X strategic placement and non-binding Avebury discussions. Exact consideration and current MOU legal terms are not disclosed in reviewed local files; FY2026 annual report was inaccessible.

Agreement permits Stellar to apply for an adjacent Comstock-area mining licence for a potential tailings solution; no transfer of mining rights or quantified cost saving is established.

Strategic Partnership · Active
Counterparties
Australian Hualong Pty Ltd
Applies to
Heemskirk Tin Project · Tin
Economic direction
Benefit
Period
From 2026-02-05; no end date stated
Key terms
Right to apply for adjacent mining licence: —
Application area: 278 hectares
How it affects our valuation

No valuation treatment is available for this arrangement.

Strategic equity investment and board nomination give Metals X influence, but no project ownership, offtake, tolling or financing commitment is disclosed.

Strategic Partnership · Active
Counterparties
Metals X Limited
Applies to
Company-wide · Tin
Economic direction
Mixed
Period
From 2026-05-17; no end date stated
Key terms
Strategic placement subscription: 17,000,000 AUD
Metals X holding at completion: 16.4 percent approximately
Board nominee right: —
How it affects our valuation

No valuation treatment is available for this arrangement.

Non-binding Avebury plant evaluation period has elapsed, while issuer says discussions continue. No binding access, cost, modification scope or current exclusivity can be confirmed.

Strategic Partnership · Unknown
Counterparties
Hartree MI UK Limited · Allegiance Mining Pty Ltd · Avebury (Operating) Pty Ltd
Applies to
Heemskirk Tin Project · Tin
Economic direction
Mixed
Period
2025-08-25 to 2026-02-25
Key terms
Original evaluation period: 6 months
Potential throughput capacity: 900,000 tonnes per annum nameplate
How it affects our valuation

No valuation treatment is available for this arrangement.