Satellites posted the trading halt reasons given above (its in the announcement itself). $5m @ 2cents (floor price) is not directly related other than the fact that they put the money up on the basis of the potential of the holdings & now we're about to find out some more about those holding plus the new exploration areas approved (as per the video recently posted). That's a decent expansion. Nearly 50% more land area but these are what Estrella directly went and asked for following their recent surface survey. IE - we found something already so let us have at us.
Not sure about the distribution of rights, but this approval came SUPER fast, like in 4-6 weeks. That's a real positive for the venture. It means they've got the ministries onboard already. Can be difficult in less developed nations so I rate this as a massive plus for ESR & their ability to find economic Mg. Just my humble thoughts anyway.
ESR Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
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