Estrella Resources signs sales deal for 27,000 tonnes
Key points
- Estrella Resources executed a binding agreement with Repusource to sell 27,000 tonnes of manganese ore from Timor-Leste.
- Shares in the company dropped 6.67% to $0.028 following the market disclosure.
- The arrangement provides a direct pathway to test customer acceptance across Asia Pacific processing markets.
Estrella Resources (ASX:ESR) signed a binding sales agreement with private Australian company Repusource for 27,000 tonnes of manganese ore from its Ira Miri Project in Timor-Leste.
The contract progresses a manganese bulk sample towards shipment following the receipt of export authorisation on Oct. 28.
Commenting on the agreement, José Gonçalves, President of MURAK RAI TIMOR, E.P., said, "This reflects the strong partnership between Estrella and Murak Rai Timor, E.P., and the confidence international buyers are placing in Timor-Leste's minerals."
The company stated that the transaction provides an efficient pathway to introduce Ira Miri manganese to a broader customer base.
Specific pricing terms remain commercially confidential, though the sale price was agreed at prevailing market rates.
The agreement will test customer acceptance and practical delivery requirements to inform potential longer-term supply discussions.
Following the announcement, the Estrella Resources share price was down at $0.028.
The transaction forms part of the Estrella Murak Rai joint venture, which Estrella manages with a 70% stake alongside local partner Murak Rai Timor.
