Estrella Resources Limited (ASX: ESR), a company focused on mineral exploration, is pleased to announce the receipt of $4,005,000, representing Tranche 1 funds, related to its listed options underwriting agreement with Million Link (China) Investment Ltd. This agreement was initially announced on 31 March 2026. Estrella Resources is actively involved in the search and development of nickel, copper, and other valuable mineral resources.
The underwriting agreement covers the exercise of 445,000,000 options, amounting to $8,010,000 before costs. According to the company, Tranche 1 funds have been successfully received in accordance with the terms agreed upon by both parties.
With the initial tranche secured, Estrella Resources anticipates receiving the remaining $4,005,000, constituting Tranche 2, within the 40-day timeframe specified in the agreement. The key terms of the underwriting agreement with Million Link are detailed in Appendix 1 of the original announcement. This recent development was approved by the Board of Estrella Resources for release to the ASX.
The underwritten options are Estrella’s listed options (ASX: ESROB). The option expiry date is 13 December 2026, and the exercise price is $0.018 per ESROB option. The underwriter will receive 10,000,000 new unlisted 3-year $0.045 exercise options converting into ESR FPOS per $1,000,000 of underwriting received by the Company, subject to a 25% penalty if the full amount is not received within 40 days.
