December RNS20 Feb 2020 10:07
FURTHER FUNDING there in black and white tbh I think more likely fund raise coming before you see any real news!
Post period under review
· Star Zinc and Ka****u operations funded through capital raise completed on 18 October 2019 raising £500,000 before expenses. Proceeds will be applied towards an application and related environmental and licence transfer activities for a small-scale mining permit for Star Zinc and exploration on Ka****u
· Negotiations targeting a zinc-ore offtake between the Company, regarding Star Zinc, and Jubilee Metals Group's ("JMG") Kabwe zinc refinery in Zambia ("Refinery"), progressed.
· The proposed terms include payability to be consistent with similar offtake agreements in the zinc market, namely based on a sliding scale against grade and price; Star Zinc ore supply for up to 60 000 tonnes (t) ore per annum; ore grade supplied not less than 14% Zn; and 3-year term supply, renewable by mutual agreement
· Mining targeted to commence Q2 2020, subject to bulk sample testing and availability of further funding and grant of small-scale mining permit including environmental permit