Forbes16 Jan 2026 08:49
Https://x.com/EastStar_PLC/status/2012081756606714078
The folks asking for some publicity have got real publicity...
https://forbes.kz/articles/mladshiy-brat-chto-ne-tak-s-finansirovaniem-yuniornyh-kompaniy-v-kazahstane-ec5397
Personal experience
Alex Walker is precisely that "junior." His CEO, East Star Resources, is engaged in early-stage exploration in Kazakhstan and is listed on the London Stock Exchange (LSE). Alex is originally from Australia and has over 20 years of experience in mining and metals finance and management. In 2019, East Star Resources began operating in Kazakhstan and registered with the AIFC. Four years ago, Walker moved his family to Kazakhstan. He says he was drawn to Kazakhstan by legislative changes in 2018 (making it easier for foreign companies to obtain exploration licenses) and the resource potential.
East Star Resources is interested in copper and gold. The company has four sites in eastern Kazakhstan and three in the Karaganda region. Exploration at the sites in East Kazakhstan was conducted during the Soviet era. Yunior digitized and remodeled this data, completed drilling, and certified the resource according to the JORC standard—20 million tonnes of copper at a grade of 1.16% at the Verkh-Uba site. Gold reserves have not yet been certified, as exploration there is at an earlier stage. Since 2020, according to Walker, East Star has invested over $10 million in Kazakhstan (incidentally, it also has funds from a family office in Australia).
But the most interesting thing is that Alex's company has attracted two major partners. One of them is Endeavor Mining, the largest gold miner in West Africa. Before partnering with East Star, it had no operations in Kazakhstan. In November 2025, the parties signed an agreement to establish a joint venture for gold exploration in Kazakhstan. The project cost is $25 million, with an 80/20 participation rate. Endeavor's investment will be phased. After exploration, the partner will complete and finance a pre-feasibility study. Only then will East Star be required to contribute its 20% stake. "This is exactly the type of deal a junior company should enter into with a major: the major benefits from our database, operational efficiency, and knowledge, while East Star gains additional exploration expertise and a stronger balance sheet to fund the early stages of work necessary for new major discoveries," says Walker. The second investor is Hong Kong-based EPCM company Xinhai. The partners will work at the Verkh-Uba copper deposit. Xinhai will invest $65 million in the feasibility study, mine and plant construction, and ultimately hold a 70% stake in the project...
[Google translation]
Sign In
Follow the stocks
