Stellar Resources (SRZ) Company presentation summary

Strategic vision and market positioning

• Aims to become a global top 10 tin producer, leveraging the high-grade Heemskirk project in Tasmania, Australia.

• Heemskirk is the highest-grade undeveloped tin project in Australia and third highest globally, with a total resource exceeding 129kt contained tin.

• Project is located in a stable, tier-1 jurisdiction with strong mining history, robust infrastructure, and 100% renewable energy supply.

• Robust balance sheet with A$30.1m in cash after a recent A$22.1m capital raising, including a strategic A$17m placement to Metals X Ltd.

• Focused on supplying unencumbered, clean tin concentrate amid global supply constraints and rising demand.

Project development and resource growth

• Significant resource upgrades: Queen Hill up 41% and Severn up 64% in 2026, resulting in a 67% increase in total resource and 94% increase in Indicated category.

• Current mineral resource: 13.36Mt @ 0.86% Sn for 115.3kt contained tin at Heemskirk, with additional resources at St Dizier and Montana.

• 62% of the total resource base is in the Indicated category, supporting a long-life mine schedule.

• Exploration upside includes open deposits at depth and along strike, with ongoing drilling and adjacent projects like East Renison.

• Advanced permitting with a granted mining lease and strong community and regulatory support.

Technical and economic highlights

• Scoping Study base case: 12-year mine life, 1,900 tpa payable tin, 350kt LOM tin in concentrate, and A$71m capex.

• All-in sustaining costs (AISC) of US$18,260/t, with NPV8% ranging from A$122m (base case) to A$259m (spot price), and IRR of 33–59%.

• Metallurgical testwork shows high recoveries (Severn 75%, Queen Hill >70%) and clean, low-impurity concentrate.

• Ore sorting delivers major economic benefits, including increased head grade, reduced costs, and improved recoveries.

• Development options include leveraging nearby infrastructure (Avebury plant, Comstock site) to reduce costs and environmental impact.