Quick little wrap up of the announcement for those that can't be...

Quick little wrap up of the announcement for those that can't be bothered reading it all.

Estrella (ASX:ESR) just dropped a pretty interesting update.

They’ve signed a Master Agreement with Indonesian outfit PT Raka Energi Mandiri (REM) to help sell limestone from their Timor-Leste tenements — with REM getting exclusive rights to market and offtake limestone into Indonesia.

The kicker? They’re targeting up to 500 million tonnes over 5 years and REM gets performance-based share options (1 per tonne sold @ 5c). So REM only wins if sales actually happen — good alignment.

Why does it matter? The limestone sits above the manganese targets, so Estrella can chase both — and this limestone looks like high-grade stuff (very pure calcite, good neutralising value).

With Indonesia pushing to clean up its nickel refining (acid neutralisation), this could tap straight into real industrial demand. And the limestone market in SE Asia is projected to hit $8B+ by 2032.

Early days, but if Estrella can tick off:

• JORC resource (by Sep)

• Scoping study (by Nov)

• Permits + approvals (by Dec)

…this might turn into a genuine revenue stream, possibly helping fund the manganese side.

A bit of limestone on top of manganese — could be a tidy combo if they pull it off.

Worth watching.