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Interesting presentation today, would recommend to anyone to listen to it if they haven't already done so.

Alex made it very clear that he was disappointed with the current SP and believed EST were significantly undervalued when the SP was 5p!

He advised we have an independent NAV of 240m, ground value assets of £2b and over 250,000T of copper. This is all based on just one of the assets.

Absolute gift at these prices. DYOR

Sheffield were happy to pay 3.6p.......anything under this is a nice bonus!

Project NPV of US$155-235m - expect an RNS in the next week!

BoD - Take 8% Placing - They seem confident of what is coming very soon!

Alex Walker £40,000

Anthony Eastman £10,000

Christopher van Wijk £10,000

Sandy Barblett £20,000

Oberon Investments Limited have increased their holding from 5.1% to 6.2%

EST announced via RNS earlier in this year that it had received an offer for the Verkhuba asset, but not the value

This is the transcript from the last presentation.

"So we initially announced in March that we had intended on running a process on VCUBA. eStar was drawn into that process, arguably prematurely due to an unsolicited offer that was significantly more than our market capitalization at the time."

The market capitalization at the time was £10m. Significantly more to me is £15-20m....maybe more.

Based on the MCAP today (£3m), that's about 5 times higher. During the call, they also revealed that they are in discussions with the company and 4 other parties about a revised offer.

4th October RNS....

With Verkhuba having more than 230,000 tonnes of contained copper, and with copper at close to $10,000 per tonne, East Star has so far delivered this in spades

Approx value $2.3b

EST announced via RNS earlier in this year that it had received an offer for the Verkhuba asset, but not the value

This is the transcript from the last presentation.

"So we initially announced in March that we had intended on running a process on VCUBA. eStar was drawn into that process, arguably prematurely due to an unsolicited offer that was significantly more than our market capitalization at the time."

The market capitalization at the time was £10m. Significantly more to me is £15-20m....maybe more.

Based on the MCAP today (£3m), that's about 5 times higher. During the call, they also revealed that they are in discussions with the company and 4 other parties about a revised offer.

This could easily be a £30m MCAP company any day. They have rejected offers in the region of £20m and are still talking to several parties.

If they reject £20m, what’s the sale price? £30m-50m?

People clearly want this asset, it’s just a matter of when and how much. Exciting few weeks, months coming up.

It’s about 20% up in the last month…..I would definitely take another 20% this time next month!

8p is a huge resistance points, if it breaks and closes above it then it should move to 11p

Look at what the company has achieved in a short space of time, they have secured funding with the BHP group, they have achieved high quality grades, received multiple offers…..they declined the offers as they want to undertake further drilling which will result in better terms, BHP are in pole position and have obviously provided non dilutive funding for a reason.

Trust the process, many explorers haven’t achieved anything for decades, just need a little more patience.

Just a few notes from some early morning reading:

Just raised £1.16m, the fundraise was supported by Directors, large shareholders who has taken 15% of the placing, and focused natural resource institutional investor, who has taken 30% of the placing.

3 main assets in Kazakhstan, which is a good jurisdiction for copper/zinc/lead and large companies such as CAML (£350m MCAP) and KAZ (£3b MCAP) operate.

High grades identified at Verkhuba Copper Deposit, Copper 1.16%, Zinc 1.54% and 0.27% lead - above standard for copper (standard 0.4%) anything over 1% is classified as high grade.

Company is supported by BHP Xplor, part of the BHP Group, providing $500k of non-dilutive funding to date. BHP Xplor are looking for projects that are set up for a future with BHP. .

Process underway for partnership or sale, received multiple offers to date all for 100% ownership of the asset. Rejected as the company believes they do not represent true value to shareholders and are worth hundreds of millions.

This has been on my watchlist for some time, I unfortunately missed the initial rise from 1.5p to 4.5p, I am glad it has gives us another opportunity. DYOR

What a load of rubbish, East Star Resources Plc (LSE:EST), the Kazakhstan focused copper exploration and resource development company, is pleased to announce that it has received a number of verbal and written offers pursuant to the formal process announced on 3 April 2024 with regards to the Company's 100%-owned Verkhuba copper deposit ("Verkhuba") in the Rudny Altai VMS Belt. While the Board has not formally accepted an offer, the process of vetting counterparties has begun……

They have already had a load of offers 🤷🏻‍♂️

He quoted, it’s worth hundreds of millions, I will share the recording when it’s released.

I only caught 15 minutes of it, was interesting the point about receiving multiple offers for the assets, and that he believed they we worth hundreds of millions 👀

Wow! so full steam ahead then, expect news any day then!

Project NPV of US$155-235m....current MCAP £6.9m, Sheffield happy to pay 3.6p, easy money to be made at this level. Load up before the herd!!

Sheffield took 10% of the company at 3.6p.....they seen the value, anything under 3.6p is a gift

I am expecting an RNS this week to announce start of the drilling programme, the AGM has passed, the recent election has finished, all approvals are in place, there is sufficient funding and the equipment is at site 😉

I am surprised this is under 10p, never mind 3p, it won't be under this for much longer. DYOR

Some things take time to move, not every RNS makes a share do 100% the next day, I called CMET on Monday and it's done 50%, GBP 2 weeks ago and it's gone on to do 200%, AMGO spiked to 150%....some move quickly, other take time.

I think this will make a good move tomorrow

No need to raise, they have sufficient cash and new orders coming in all the time.

I agree, I can’t believe an agreement with a £2b pound company didn’t push this higher.

Seller out, let’s see it build up slowly.