Stellar Resources (ASX: SRZ) is heading to market with a capital raising. The ASX has granted the company a trading halt, with its shares placed in pre-open.
The company is focused on the wholly-owned Heemskirk tin project in Tasmania, along with the nearby St Dizier tin deposit.
Heemskirk is the highest grade undeveloped ASX listed tin resource, with positive metrics including a competitive mine gate cost of US$14,389/t from the Pre-Feasibility Study.
Adding value to Steller, Heemskirk can get much bigger with discoveries at depth, and the best analogy for Heemskirk is Rension Bell - located 18 kilometres to the northeast.
The halt will remain in place until the opening of trade on Thursday 20th February 2014, or earlier if an announcement is made to the market.
Last month Stellar announced a new major investor in Capetown S.A, a private family owned company based in Luxembourg.
At the time $2.6 million before costs was raised through a placement, with the issue of 50 million shares at $0.052.
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