Australian Mining
Star Minerals and MEGA Resources have united to advance the Tumblegum South gold project in Western Australia.
The companies have signed a memorandum of understanding (MoU) to collaborate on the mining approvals process and feasibility study, with discussions also taking place regarding working capital and profit share.
Tumblegum South hosts a mineral resource of 616,000 tonnes at 2.28 grams per tonne of gold (g/t) with an indicated mineral resource of 337,000 tonnes at 2.52g/t gold.
Trading View
Reuters - Entered MOU with Bain Group and its Mining Entity MEGA Resources
The Courier Mail
Break it Down: Star’s shooting success at Tumblegum. Star Minerals strikes a deal with Indian powerhouse to bring its Tumblegum South gold project into production.
Herald Sun
Star Minerals strikes a deal with Indian powerhouse to bring its Tumblegum South gold project into production.
Star Minerals (ASX:SMS) has struck a deal with Bain Group and its mining entity MEGA Resources at the Tumblegum South gold project.
The Australian
Star Minerals collaborates on gold production path. Star Minerals (ASX:SMS) has struck a deal with Bain Group and its mining entity MEGA Resources at the Tumblegum South gold project.
Stockhead
The MoU will see the two companies collaborate on mining approvals and feasibility study inputs as Star works to bring the project into production.
The Age
Armed with a master’s degree in applied finance from London’s renowned Imperial College and a geology degree, newly minted Star Minerals managing director Ashley Jones will now look to lead the company’s 45,000 ounce Tumblegum South gold project into production via toll treating.
The recently appointed Jones says he will be focussing on getting Star into early cashflows via Tumblegum South in WA’s Mid West region, in addition to seeking out new opportunities for the company.
Star Minerals has appointed a new managing director as it looks to advance its core WA gold project towards development.
New managing director Ashley Jones has more than 20 years of experience in feasibility level mining projects.
SMS promotes Ashley Jones to managing director, an experienced mine manager
Move set to advance development of Tumblegum South gold project
Company recently raised $1.6m and scored new strategic investor
