Estrella's Timor-Leste Unit Amends Agreement With Project Partner; Shares Rise 3%

MT Newswires Live

Aug 26

Estrella Resources' (ASX:ESR) unit amended its master agreement with Indonesian mining services firm and Timor-Leste project partner PT Raka Energi Mandiri for the marketing and sales of limestone from the company's mining concessions at the project, according to a Tuesday filing with the Australian bourse.

Under the revised terms, the deadline to obtain all necessary mining and export approvals is extended to March 31, 2026, the filing said.

A Joint Ore Reserves Committee-compliant limestone resource of 500 million tonnes is now due by Nov. 30, a scoping study deadline is pushed to Jan. 30, 2026, and infrastructure and port approvals are now required by June 30, 2026, the filing added.

Approval to start drilling at the project is expected in a few weeks, the filing added.

Shares of the company rose past 3% in recent Tuesday trade.

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