SLB.ASX: Successful Placement to Fund Hill of Leaders Project

Successful Placement to Fund Hill of Leaders Project

Stock	Stelar Metals Ltd (SLB.ASX)
Release Time	3 Aug 2026, 10:29 a.m.
Price Sensitive	Yes

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Stelar Metals Secures Funding for Tungsten Exploration

Key Points

Stelar Metals raises A$2.6M through share placement
Funds to support Hill of Leaders Tungsten Project
Maiden drill program to test mineralized veins in August
Global demand for tungsten drives exploration efforts

Full Summary

Stelar Metals Limited (ASX:SLB) has successfully completed a share placement raising approximately A$2.6 million before costs, with 13,141,421 shares issued at $0.20 each. The funds will support field activities, drilling, and working capital for the Hill of Leaders Tungsten Project in the Northern Territory. Rig mobilization is scheduled for August 2026, with a maiden drill program planned to test the mineralized surface veins. The placement reflects market interest in the project amid global demand for tungsten.

Guidance

Stelar Metals aims to raise approximately A$2.6 million through the placement.

Outlook

Stelar Metals plans to commence drilling at the Hill of Leaders Tungsten Project in August 2026, aiming to test the mineralized veins for the first time.