STELLAE RESOUECES LTD, through its 100 percent owned subsidiary Columbus Metals Ltd, acquired a 60 percent interest in the Zeehan tin project in mid March for 1,178 million dollars in cash and shares from Western Metals Ltd. Melbourne-based Stellar is now in joint venture with Gippsland Ltd and, under the JV terms, can increase its interest in Zeehan to 70 percent by completing a feasibility study to the bankable stage. The Melbourne-based company also holds the St Dizier tin deposit located on the northern edge of the Heemskirk granite within its extensive Heemskirk licence in Tasmania, as well as exploration licences in the region at Rayne, Ramsay and Dundas -all of which are highly prospective for tin. Stellar now plans to spin off the most prospective of these tin assets into Columbus Metals Ltd to create a highly focused tin development and exploration company.
展开▼
