Estrella Resources Limited (ASX: ESR) has been successful in pre-qualifying for Timor-Leste’s inaugural Minerals Tender process, offering the company the potential to acquire tenure in a heavily underexplored region.
The Minerals Tender will, for the first time, award mineral titles across the country, providing a unique first mover advantage for those that are successful in securing concessions.
Pre-qualification was via submission of a detailed company profile and vetting of the legitimacy of Estrella’s exploration abilities, funding, management, safety records and ESG credentials.
The company has submitted several competitive bids prior to the tender close yesterday for highly prospective mineral concessions that will be awarded by the Timor-Leste government.
Managing Director Chris Daws said Estrella continues to remain steadfast in its strategy of exploring and developing highly attractive nickel opportunities in Western Australia via its Carr Boyd and Spargoville projects. However, the pre-qualification activities were deemed to pose a minimal administrative burden with the potential to offer access to highly prospective ground.
Moreover, the company already possesses strong connections within Timor-Leste and is currently establishing a branch company to service any activities in the country.
“We have over a very long period been eying potential exploration opportunities within Timor-Leste and I am excited to see the expanding potential for Estrella Resources within the region,” Mr Daws said.
“I congratulate the Timor-Leste government in progressing their minerals industry and look forward in working with the Timorese people to develop strong mineral exploration activities within the country.
“Estrella, if successful in its bids for minerals concessions, will have a unique advantage into a new and exciting exploration frontier. We have identified areas in Timor-Leste which we believe hold a very high prospectivity for minerals exploration and are keen to bring these opportunities into fruition.
“We look forward to providing the market with further updates with respect to the Minerals Tender bids as it progresses over coming weeks.”
Awarding of concessions are currently expected to occur within the next two months and the Company looks forward to the potential opportunity to participate in Timor-Leste’ emerging minerals exploration industry.
