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Stellar Resources granted trading halt to finalise acquisition of 40% stake in Heemskirk Tin Project

Stellar Resources (ASX: SRZ) is in pre-open as it finalises a Sale and Purchase Agreement to acquire Gippsland’s (ASX: GIP) 40% carried interest in the Heemskirk Tin Project in Tasmania.

Stellar is confident it will be able to make a joint announcement with Gippsland regarding the acquisition by the commencement of trading on Wednesday, November 2.

The Heemskirk Tin Project, located near Zeehan on Tasmania’s West Coast, is estimated to have a JORC compliant resource of 4.4 million tonnes grading 1.1% tin, or 48,000 tonnes of contained tin.

A scoping study showed potential for economic development with a 3.5 year payback on $108 million pre-production capital and a competitive cash operating cost of US$12,780 per tonne of tin.