What a vote of confidence in Management and Estrella itself! A...

What a vote of confidence in Management and Estrella itself!
A 17.5% premium to the 10-day moving VWAP, and this being the third time that Estrella has gotten outside money at a premium to the market, shows the interest in what Estrella is doing and the space it's playing in.

The previous raise of 83 million shares was basically done on the same terms in October by the same underwriter. The issue price back then of $0.015 represents a 7% increase to the last trading price of $0.014 on 18 October 2024.

I'm also impressed that Daws & Pereira are actually taking the shareholders into consideration, demanding this premium to maintain share price momentum for us retail investors.

My investment reference statement at the start of this thread has been enacted perfectly, and I will be buying on this funding arrangement.

My key points were that funding is the foundation and if we can gain funding at a premium between 3 to 4 cents, this will help with dilution.

Please see my first point in early January at the top of this thread:

"Funding is paramount. The $5 million Ratta option is promising, but Daws has wisely been presenting this project across Asia to institutions, ensuring alternative avenues are explored.
Funding sourced at a 3 to 4 cent valuation would reduce dilution and reflect stronger investor confidence.
Strategic partnerships or institutional backing will be key to securing favorable terms. I’ll be watching closely for clarity on funding sources, as this will directly impact the pace and scale of operations."

MJ Ratta pty ltd
This arrangement is at a 50% premium to the Ratta deal:
Ratta: 250 million shares = $5 million
Barcley Wells: 125 million shares = $3.75 million
Comparing Apples with Apples:
Ratta: 250 million shares = $5 million
Barcley Wells: 166 million shares = $5 million

Where does this leave Ratta? As I suggested earlier in the week, and for which I was criticized, they could actually self-fund a 20% discount once the SP (I said once, not if) gets to 10 to 11 cents.
Anyway, that's in the future.

Drilling Program

Next step: the point 2 on my investment reference statement - Drill program plan.
"2. The Drilling Program is Make-or-Break(Based on My Estimates)The next drilling program is pivotal but comes with challenges.
While my estimates are derived from previous campaigns, the tough terrain, unpredictable weather, potential equipment breakdowns, and the inexperience of Timor-Leste crews could slow operations significantly.
Scope: I estimate an initial program of 85 holes at Samalari ($7000 per hole), targeting the 85,000 sqm strike zone. Costs could reach approximately $600,000 AUD for Samalari alone.
Drill Rates: RC drills typically achieve 10 meters/hour, potentially allowing 180 holes over three months under ideal conditions. However, delays in tough terrain are likely.
Depth Potential: Some holes may extend to 100 meters plus if mineralization is encountered, increasing costs and complexity.It’s crucial to manage expectations and understand that this program must be executed with precision to validate the project’s potential.Note: please don't crucify me for my estimations before the program is released, they are just that, estimations."

I'd expect Steve Warriner to be formulating this as we speak. As I said above, this is make or break!

Well done Estrella, keep ticking boxes. Let's not forget Chris and Les are currently in Asia selling this story, and I'd imagine that smart money would want to be set before that first RC drill breaks ground.

I will be buying today.

Ill just leave this here also, just for context on the potential our ground may provide



"The Lavai village chief (Lautem District) shows samples of pure manganese ore(pyrolusite) collected a few kilometers south of the village from a large outcrop on the banksof the river. The occurrence is reported to be several hundred metres long and tens of metresthick and was investigated by a Japanese team in the 1970s.