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Star Minerals has entered a strategic partnership with Catalyst Metals, securing a gold milling agreement for its Tumblegum South project and selling its West Bryah Basin copper-gold assets for $2.75 million. Catalyst also commits to a $1 million equity placement in Star Minerals, underpinning the company’s development plans.

• Gold toll treatment agreement for 250kt at Catalyst’s Plutonic Mill
• Catalyst Metals to acquire West Bryah Basin copper-gold project for $2.75M
• Catalyst to invest $1M via strategic share placement in Star Minerals
• Agreement includes options and rights of refusal on Tumblegum South assets
• Transaction supports Star Minerals’ flagship project development and cash flow

The Day's Play by MarketOpen

Star Minerals has signed a gold toll treatment agreement with Catalyst Metals for up to 250kt of mill feed from the Tumblegum South Gold Project to be processed at the Plutonic Mill over a two year period. Catalyst will also subscribe for $1M in Star at $0.062 per share and acquire the West Bryah Basin copper gold project for $2.75M, comprising $1M cash and 230,534 CYL shares.  

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• Star Minerals has cleared its final hurdle to mine the Tumblegum South gold project in WA, with a toll treatment agreement with Catalyst Metals
• Catalyst, a $2bn miner, will also take a substantial stake in the gold junior and purchase non-core tenements closer in the Bryah Basin
• Mine to deliver close to $20m in cash flow for Star – at gold prices close to half of today’s A$6900/oz

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Star Minerals targeting Q1 production

Near-term producer Star Minerals (ASX:SMS) is also targeting production in Q1 2026 at the Tumblegum South project in WA.

The current mine plan envisions production of between 167,000t at 2.43g/t (11,800oz of contained gold) and 255,000t at 2.16g/t (15,900oz).

At a very conservative gold price range from $3000 to $3800 per ounce, this is expected to deliver gross free cash flow of between $9.4m and $19.6m.

Needless to say, returns are likely to be significantly higher given the current gold price.

Paydirt

One of those companies preparing to join the ranks of gold producer later this year is Star Minerals Ltd, which is gearing up to start mining its modest but high-grade Tumblegum South project in Western Australia from next month.

Proactive

Star Minerals Ltd (ASX:SMS) has restarted grade control drilling at its Tumblegum South Gold Project, 40 kilometres south, southeast of Meekatharra, with MEGA Resources coordinating the program.

The drilling campaign is expected to total about 4,000 metres, with 611 metres completed before Christmas.

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• Star Minerals resumes 4000m of grade control drilling at Tumblegum South
• The company plans to start mining this quarter under 50/50 profit deal with MEGA Resources
• Gold is trading at near record $6833/oz, well above the $3000-3800/oz range in current mine plan

Mining.com.au

Star Minerals (ASX:SMS) has recommenced grade control drilling at the Tumblegum South Gold Project in Western Australia.

Drilling will consist of approximately 4,000m, with 611m already completed before the Christmas holiday.

MEGA Resources is coordinating the drill program. Managing Director Ashley Jones says that the MEGA geological team has already made significant progress prior to the Christmas break and are now ready to continue the drill program.

The Australian

Star Minerals speeds ahead with Tumblegum South drilling as mining looms

• Mining approvals secured with 611m of 4000m grade control drilling completed
• Closely spaced holes will guide mining process to ensure optimum ore to waste ratio
• Deal with MEGA Resources will see mining start in Q1 2026

Stockhead

• Mining approvals secured with 611m of 4000m grade control drilling completed
• Closely spaced holes will guide mining process to ensure optimum ore to waste ratio
• Deal with MEGA Resources will see mining start in Q1 2026