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4 Jul 2024 07:00
4 July 2024
East Star Resources Plc
("East Star" or the "Company")
Verkhuba - Offers Received
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.
While there is no guarantee an offer will be accepted and agreement completed, it is the Company's intention to finalise the process as soon as practicable.
Alex Walker, CEO, commented:
"We're pleased with the level of interest in the Verkhuba asset, with some parties' interest going beyond Verkhuba to working with East Star more broadly. We now look forward to finalising this offer process.
Our field teams have been working since early June, conducting mapping and litho-geochemical sampling over priority targets in the Rudny Altai VMS licences to ensure the best are selected for drill testing this year. We look forward to providing a more detailed update on this work in the near future."
East Star Resources Plc
Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)
SI Capital (Corporate Broker)
Nick Emerson
Tel: +44 (0)1483 413 500
Peterhouse Capital Limited (Corporate Broker)
Peter Greensmith
Tel: +44 (0) 20 7469 0930
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
Tel: +44 (0)20 7390 0234
About East Star Resources Plc
East Star Resources is focused on the discovery and development of strategic minerals required for the energy revolution. With eight licences covering >1,000 km² in three mineral rich districts of Kazakhstan, East Star is undertaking an intensive exploration programme, applying modern geophysics to discover minerals in levels that were not previously explored. East Star's most advanced project is a copper deposit on the world-class Rudny Altai VMS Belt where the Company is working towards the delivery of a JORC compliant open pit copper resource close to infrastructure, within trucking distance of third-party mills with excess capacity. East Star's management are based permanently on the ground, supported by local expertise, a joint venture with the state mining company on certain projects, and grant funding from BHP through the BHP Xplor programme for copper porphyry exploration.
Visit our website:
www.eaststarplc.com
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/east-star-resources/
X (formerly Twitter): https://twitter.com/EastStar_PLC
Subscribe to our email alert service to be notified whenever East Star releases news:
www.eaststarplc.com/newsalerts
The person who arranged for the release of this announcement was Alex Walker, CEO of the Company.
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain.
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