Stellar Resources adds new substantial shareholderWednesday, May...

Stellar Resources adds new substantial shareholder
Wednesday, May 29, 2013 by Bevis Yeo


Stellar Resources adds new substantial shareholder

Stellar Resources (ASX: SRZ) has added Susanne Bunnenberg to its substantial shareholder to its roll with a 18.4% stake in the company.

Bunnenberg had acquired 41,117,649 shares from former joint venture partner Gippsland Limited for $1.8 million.

Stellar said Bunnenberg is understood to be a long term investor who is enthusiastic about its Heemskirk Tin Project in Tasmania and keen to see it becoming a producing mine.

German-based Bunnenberg also holds a 45.1% stake in Impact Minerals (ASX: IPT).

The company had in April reported that it had made a thicker than expected intersection of high grade tin with its first hole at the main Queen Hill ore body at its Heemskirk Tin project in Tasmania.

ZQ125 – the first diamond hole drilled into Queen Hill in 30 years – intersected 32 metres at 1.58% tin from 226 metres that included 10 metres at 2.54% tin from 238 metres, 5 metres at 2.49% tin from 253 metres and 7 metres at 1.67% tin from 226 metres.

Notably, comparing high tin grades with low soluble tin assays implies that more than 97% of tin is in the form of cassiterite – the most favourable tin mineral for processing

http://www.proactiveinvestors.com.au/companies/news/43861/stellar-resources-adds-new-substantial-shareholder-43861.html