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Resource Star Gains New Substantial Shareholder

Resource Star (ASX: RSL) has added a new substantial shareholder to its register with Ecometrix acquiring an 18.57% share in the company.

Ecometrix purchased around 21.1 million shares for A$300,000, providing an average entry price of about $0.01 per share.

Investor interest in Resource Star has been growing as the company continues exploration at the Livingstonia uranium project in Malawi.

The company recently successfully raised A$1.14 million to begin a new round of exploration at the project.

Resource Star is earning up to an 80% stake in Livingstonia from joint venture partner Globe Metals and Mining (ASX: GBE).

In November 2011 an extension to the northern boundary of one tenement at the project was granted, boosting the project's exploration potential.

The additional 400 metres of land lies to the north of the Chombe prospect's existing Inferred JORC Resource of 8.3 million tonnes at 325 parts per million uranium oxide equivalent for a contained 6 million pounds of uranium oxide.

Resource Star is also advancing its other exploration projects, which include the Machinga Joint Venture and Ilomba Hill Joint Venture in Malawi as well as the Spinifex Joint Venture and the Edith River Project in Australia.

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