Stellar Resources falls despite progress on Welsh gold project

AIM-listed gold explorer Stellar Resources was a notable decliner on Thursday despite announcing progress on a mining scheme in North Wales.Stellar said a gold processing plant bought for use at its Clogau St David's gold mine had arrived in Amsterdam, from where it will be moved to Clogau. The group said, however, that the plant, which treats two tonnes per hour, will need to be assembled and commissioned before it can start work.It also said the plant's South African maker would need to send one of its technical team to help set it up and carry out initial trial runs.Bulk samples from underground operations are being stockpiled at Clogau in readiness.Once assembled, the plant will enable Stellar's joint venture partners to begin processing gold ore on a small pilot scale, as well as to more accurately assess and correlate the past year's underground sampling programmes with actual gold recoveries.Shares in the group had fallen 7.38% to 0.625p by 12:48.NR Strip Tinning