Australia's Star Minerals rises on mining deal, capital raise

Star Minerals

13/11/2025 02:53

** Star Minerals SMS.AX rises 7% to A$0.046; set for best session since October 16

** Copper-gold miner signs right to mine agreement for Tumblegum South gold project in Western Australia with mining contractor MEGA Resources, its financial arm Bain Global Resources

** Deal grants MEGA mining contract for project, provides for 50:50 profit share arrangement with Bain Global Resources

** Bain Global Resources will provide working capital of up to A$20 mln ($13 mln) via MEGA Resources, reducing co's need to raise funds via dilutive issuance

** YTD, SMS gains 27.8%

($1 = A$1.5389)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))