Metals X has secured a 16.4 per cent stake in Sydney-based minerals explorer Stellar Resources.
Metals X has secured a 16.4 per cent stake in Sydney-based minerals explorer Stellar Resources.
Stellar told the market on Thursday that the South Perth-based tin producer would provide a cornerstone investment of $17 million in a private placement, as part of Stellar’s overall $22.1 million capital raise, where it will issue shares at 3.3 cents per share.
Aside from being invited to nominate a director on Stellar’s board, Metals X will also become a major shareholder.
“We have been closely monitoring the steady progress the Stellar team has achieved at the Heemskirk tin project,” Metals X executive director Brett Smith said on Thursday.
“Their recent resource upgrade and the notable metallurgical improvements at Queen Hill highlight the underlying quality of the asset, and we are very pleased to formalise this strategic placement.”
Stellar said proceeds from both the placement and capital raise would hold it in good stead for further advancing Heemskirk, located in western Tasmania, with the project’s pre-feasibility study expected to be released during the third quarter of CY26.
"With our projects located so close to their flagship Renison operation, there are clear, local synergies to explore within this tier-1 tin district," Stellar managing director Simon Taylor said.
Metals X, which has a market cap of $1.25 billion, holds a 50 per cent stake in the Renison tin operation, courtesy of its 50 per cent interest in the Bluestone Mines Tasmania joint venture.
Renison is also located in western Tasmania and is 15km away from Heemskirk.
During the March 2026 quarter, Renison produced 2887 tonnes of tin-in-concentrate, down from 3319t in December 2025 – with Metals X’s production share yielding 1444t, down from 1660t.
