Totally fair to take a cautious long-term view — but the opportunity with Estrella (ESR) over the next month isn’t about mining in 2030, it’s about what happens when the drill hits the right spot now.
ESR is set to drill a shallow, high-grade manganese system in Timor-Leste — the first of its kind in the country. They’ve got mapped outcrops over 50% Mn, a 90-hole RC program kicking off, and the first mover advantage in a nation that’s publicly supporting mining growth.
MD Daws has even floated the idea of a first shipment potentially happening as early as late 2025. Personally, I think that’s optimistic — but it shows the mindset here: fast, aggressive, and aiming to monetise early.
This isn't just speculation:
* Driller is secured and incentivised with equity
* Targets are walk-up, visible, high-grade
* Near-surface DSO = fast-to-market potential
* Government is onside — permits and in-country logistics already moving
In a tightly held \$60M cap, with a strong narrative, looming assays, and major upside if even one hole confirms continuity — this is where discovery premium lives.
Forget building a mine — this phase is where rerates happen. Think Azure, Liontown, Atlantic — the crowd doesn’t wait for DFS.
Short-term:
Spec money loves this kind of setup.
High conviction, real news flow, tight float.
If the drill hits — price goes vertical.
If it doesn’t — it’s capped downside at this level.
But if you wait for the de-risked version — the boat will already have sailed.
(20min delay)