Australia's Estrella Resources loses most in over 1 month on WA project sale
06/10/2026 03:23
BUZZ-Australia's Estrella Resources loses most in over 1 month on WA project sale ** Estrella Resources ESR.AX tumbles as much as 7.41% to A$0.025, its sharpest intraday pct drop since August 31
** Stock hits its lowest level in more than a week
** The nickel developer to divest Spargoville Nickel project in Western Australia's rights to Astral Resources AAR.AX for 20 mln Astral shares worth A$3 million ($2.09 million)
** Managing Director Robert Mencel says Astral deal allows company to focus on flagship Timor-Leste tenements while preserving upside from existing assets
** YTD, Estrella stock down 16.1%, while AAR down 35.9%
($1 = 1.4347 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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