Stellar Resources Ltd. has raised AU$22.1 million to fast-track its Heemskirk tin project, underpinned by a cornerstone investment from Australia’s largest tin producer.
The capital raising includes a AU$17 million placement to Metals X Ltd., Australia’s largest tin producer, with a 50 per cent interest in the Renison tin operation.
The remaining AU$5.1 million was raised through a placement to investors at 3.3 cents per share.
Following the completion of the raise, Stellar will have a pro-forma cash position of approximately AU$33 million, providing the financial firepower needed to move Heemskirk through the final stages of development.
Stellar’s Managing Director, Simon Taylor, described the deal as a transformative milestone for the company.
“Securing a $17 million cornerstone investment from a highly respected industry player like Metals X is a major validation of the Heemskirk tin project and its potential to become a significant new tin operation,” Taylor said.
“Stellar is now in a very strong position to advance Heemskirk through our upcoming Prefeasibility Study in Q3 2026 and into the definitive feasibility study.”
The fresh capital is earmarked for several critical milestones, including the completion of a prefeasibility study (PFS) expected in the third quarter of 2026, followed by a definitive feasibility study (DFS).
The company also plans to ramp up exploration at its nearby East Renison and Granite Tor projects.
The tie-up with Metals X is particularly significant given the geography. Metals X’s Renison operation sits just 15 kilometres north-east of Heemskirk.
Upon completion, Metals X will hold a 16.4 per cent stake in Stellar and will appoint a nominee to the Stellar board, signalling a deep level of technical and operational collaboration between the two companies.
