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Estrella Resources enters strategic partnership with Chinese conglomerate


09:00 27 Jan 2017
Estrella Resources (ASX:ESR) has entered into a strategic partnership with Chinese industrial and resources conglomerate Tianjin Datong Xintian Investment Co Ltd.
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Estrella Resources enters strategic partnership with Chinese conglomerate
The parties have agreed to establish the preliminary framework of cooperation to acquire, explore, develop and finance a mineral asset portfolio in Australia.
Tianjin is the final controlling shareholder of Guangzhou Huiji Industrial in China with assets in excess of $4 billion.
If the agreement is finalised, Estrella will offer advice and assistance to Tianjin in identifying equity partners in Australia, while Tianjin will assist Estrella obtain prospective business partners in China.
Estrella and Tianjin is expected to jointly work towards raising capital and acquiring, exploring and developing mineral assets in Australia.
Furthermore, Tianjin shall provide assistance to Estrella to access Tianjin’s domestic and international network and financial resources.
Estrella’s share price has more than doubled since the start of 2017, closing at $0.13 on Wednesday.
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