ESR estrella resources limited

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Good summary Timorlad — a few quick thoughts from me:ESR has...

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29/04/25

15:21

Post #: 78843313
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Originally posted by Timorlad: ↑

Great reading Quarterly report

My 10-Point Summary of the Estrella Resources (ASX: ESR) March 2025 Quarterly
Just finished reading the ESR quarterly and honestly, this is the most exciting update I’ve seen from them yet.
Here’s my full takeaway:
Drill Program Locked and Loaded — 10,000m RC + 3,000m Diamond
They’ve locked in a very serious drilling program:
10,000 metres of RC drilling
3,000 metres of diamond drilling
Equipment is on site, crews are trained, and final environmental ticks are expected imminently.
Drilling will kick off first at Ira Miri.
First-Ever Mineral Drilling in Timor-Leste Under New Mining Code
This will be the first formal mineral drilling conducted under Timor’s new mining laws.
Massive first-mover advantage here.
If ESR hits, they’ll have prime access in a jurisdiction that’s wide open.
Ira Miri Prospect Looks Seriously Strong
Ira Miri will be drilled first — no surprise given the surface sampling up to 58.6% Mn.
Widespread manganese outcrops and easy access make it the obvious starting point.
CoreSearch Deal a Masterstroke
Estrella structured an exclusive drilling deal with CoreSearch Minerals, funding the rigs as a repayable loan (about US$200k).
Gives ESR access without CAPEX burden.
One of the smarter setups I’ve seen from a junior.
Major Positive Community and Government Engagement
No objections from local communities and all cultural protections respected.
Government approvals well underway.
Huge green tick for operating smoothly in a frontier region.
Sica Prospect Also Looking Very Promising
Sica prospect assays up to 49.3% Mn, with detrital material (transported manganese) over 40% Mn.
Multiple quality drill targets to chase after Ira Miri.
Real Mining Development Vision Emerging
ESR isn’t drilling blind.
Simple geology, near-surface manganese, and strong grades point toward potential fast-tracked DSO production if successful.
Tight Capital Structure Remains a Key Strength
No major dilution outside of a small $3.75m placement.
Register remains tight — any good drill hits could cause a sharp re-rate.
Cash in Bank — ~$3.15 Million
Plenty of cash to execute the full Phase 1 program.
No urgent need to raise more money in the short term.
Perfect Timing — Dry Season About to Begin
Weather is shifting in Timor — dry season is incoming.
Perfect timing for uninterrupted drilling through Q2 and Q3.
Final Thoughts:
This quarter felt like ESR ticking every box:
Drilling contracts signed
Permits almost complete
Rig staged and ready
Strong manganese grades
Tight cap table and strong treasury
They’ve laid the foundation — now it’s all about the drill bit.
The next 90 days could be transformational if the early holes deliver anything like the surface sampling suggests.
I'm personally very excited and holding tight.

Expand

Good summary Timorlad — a few quick thoughts from me:
ESR has built the right foundations — standout surface grades, smart rig structure, tight register, and a local drill crew that knows the ground.
Although there are still risks around execution and timing, I’m happy to sit tight and wait.
Big few months ahead.

GO ESTRELLA
ESR Price at posting: 3.2¢ Sentiment: Buy Disclosure: Held
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