I think most of us can agree that as the Easter break wraps up, there’s a renewed sense of anticipation surrounding Estrella Resources finally commencing drilling in Timor-Leste.
Whether drilling begins in two weeks, or perhaps three to four depending on the final break in the wet season, the countdown is well and truly underway.I genuinely believe we’re entering a phase where buying pressure, volume, and sentiment will steadily rise in the lead-up to placing that first drill hole over mineralisation grading between 55% and 60% Mn, and finally breaking ground.
Over the past few months, retail selling has dominated the tape, largely due to delays from the extended wet season and traders rotating capital elsewhere. But that’s already changing. We’ve seen the share price rise from 2.2c to a high of 3.1c last Thursday, a sign that attention is returning, and perhaps more importantly, smart money is quietly positioning.
Over the last 8 months, several sophisticated investors have increased their positions, including at 3.0c, a full 0.2c above the previous close on Thursday, without hesitation. Among them, AWM Holdings FZCO, the world’s largest shipper of manganese, has now held a substantial position for over six months.
Notably, in January 2025, Estrella raised 3.75 million dollars at a premium, funded by a sister company of AWM, a clear show of strategic alignment and long-term confidence. It’s also worth highlighting that each of the last three capital raises has been done at a premium to market, not a discount, a rare feat for a pre-drill exploration company and a clear indicator of institutional support.
Three months ago, I said I believed Estrella would be trading closer to 5 cents before the first drill turns at Ira Miri. That view hasn’t changed. If anything, the positioning of major shareholders, the quality of the geology, and the timing now reinforce that call even further.
Tomorrow, I’ll be watching volume closely. Lets see if institutions, retail and sophisticated investors are going further increase their exposure before this story breaks open, this pre drilling lead up will be extremely interesting to watch .
The market will shift, the opportunity is forming, and drilling hasn’t even started yet.
Good Luck all GO ESTRELLA
ESR Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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