Stellar Resources (SRZ) investor relations material

Executive summary

• Heemskirk’s Mineral Resource increased 67% from 2023 to 13.36Mt at 0.86% Sn, containing 115.3kt of tin; including St Dizier, the combined resource base is 129.1kt.

• Severn’s updated estimate lifted its Indicated resource 125% to 6.05Mt at 0.84% Sn, containing 50,739t of tin.

• Prefeasibility work is assessing mine and processing options and potential resource extensions, with completion targeted for 1H 2027.

Financial highlights

• Cash and cash equivalents were $4.307m at quarter-end, alongside $24m in term deposits with maturities over three months; total reported cash position was $28.3m.

• Quarter cash outflows included $1.618m for exploration and evaluation, $191k for staff costs and $398k for administration and corporate costs; interest received was $125k.

• Payments to related parties were $201k, comprising executive remuneration, non-executive director fees and superannuation.

Outlook and guidance

• PFS completion is targeted for 1H 2027, incorporating trade-off studies on shallow Severn extensions and Montana within an expanded production profile.

• Drilling is planned to provide material for DFS-level metallurgical studies; engineering work is evaluating standalone operations and options using nearby infrastructure.

• Preliminary, non-binding discussions with prospective offtake groups are continuing on concentrate specifications and requirements.

• Follow-up drilling at Severn and targets near Montana and Donnellys is testing extensions beyond the current resource; results from ZS187W3A were pending.