Our top two largest shareholders, WMA Holdings FZCO and MJ Ratta Investments, held no shares in Estrella Resources last year. However, they are now the biggest holders with 3.5% and 3.1% respectively. I believe they will become substantial holders in the near future. If we see a change in substantial holdings announced, I'll take this as a significant signal.MJ Ratta Investments' strategic investment is particularly intriguing. They injected $350,000 in capital at $0.06 and have the option to purchase up to $5 million worth of ESR at $0.02. The most promising aspect for Estrella is that, for the first time, they have suitors like Glencore, WMA, and MJ Ratta Investments, although information on the latter remains elusive.Previously, Estrella Resources invited parties to Carr Boyd with no interest shown. However, there now seems to be substantial interest in its manganese assets in Timor-Leste. In summary, this could turn into a competitive bid for Estrella's prime, untouched ground.
Chris Daws' relationship-building skills might just pay dividends this time around. Even though Carr Boyd is currently in mothballs due to nickel prices, it remains an extremely valuable asset in my view.
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