Estrella Resources (ASX:ESR) entered into an option underwriting agreement with Million Link (China) Investment to underwrite the majority balance of its existing quoted options, exercisable at AU$0.018 apiece and expiring Dec. 13, according to a Tuesday Australian bourse filing.

Million Link will underwrite the exercise of 445 million options, representing an underwritten amount of AU$8 million before costs. This involves Million Link subscribing or procuring subscriptions for the number of shares equal to the number of underwritten options that are not exercised by Dec. 13.

Million Link will receive a fee of 8% of the final underwritten amount and 10 million new unlisted three-year AU$0.045 exercise options that convert to Estrella Resources fully-paid ordinary shares per AU$1 million of underwriting funds received by Estrella.

Its shares fell 1% in recent trading on Tuesday.