"We've got global interest in what we are doing in Timor now", page-58

I believe it's highly likely that WMA Holdings FZCO, our largest shareholder, will seek to acquire M & J Ratta's $5,000,000 option to purchase shares at 2c.
In exchange, Ratta may receive a free carry of 10-15% of the option shares (totaling 250 million shares).

This arrangement would grant WMA access to the purchase option. It’s also plausible that only a portion of the option will be executed initially.


Until this transaction is finalized, the upper price limit remains at 2c. This is a strategically sound deal for WMA or another major player like Glencore, offering the opportunity to secure a 15-16% stake in Estrella for $5 million in off-market cash.