SLB: 2025/26 Full Year Statutory Accounts
Original announcement by asx on
- Company
- Stelar Metals Limited
- Ticker
- SLB
- Exchange
- ASX
- Region
- Northern Territory
- Primary commodity
- Tungsten
- Secondary commodities
- Lithium, Copper, Zinc, Molybdenum, Silver
- Document categories
- Agreement transaction, Capital raise, Other, Drill results
- Extracted
- 2026-09-29 14:33:52 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Stelar Metals Limited reported a reduced net loss for the year ended June 30, 2026, and strengthened its financial position with a successful $2.628 million capital raise. The company entered into a binding earn-in agreement for the Hill of Leaders Tungsten Project in the Northern Territory, where initial surface sampling returned exceptional high-grade tungsten assays up to 15.69% WO₃, significantly enhancing the project's exploration potential. An upcoming maiden RC drilling program is planned to test the depth and continuity of this promising tungsten system.
Reasoning: The company reported a reduced net loss and strengthened its financial position with a successful capital raise. A new earn-in agreement for the Hill of Leaders Tungsten Project, supported by exceptional high-grade surface sample results, significantly enhances future exploration potential, despite an impairment charge on another project.
Positive factors
- new_project_acquisition
- high_grade_surface_samples
- successful_capital_raise
- reduced_net_loss
Negative factors
- project_impairment
- cash_balance_decreased
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 17
Classification and evidence
Agreement Signedpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company signed a binding earn-in agreement for the Hill of Leaders Tungsten Project.
Evidence · text
“On 12 May 2026, Stelar Metals signed a binding earn-in agreement with F&H Brothers Metals Pty Ltd over the Hill of Leaders Tungsten Project”
Bonanza Interceptpositive · Story-specific tag
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: The rock chip sample HOLA039 returned an exceptionally high-grade of 15.69% WO3, which is well above typical economic cut-off grades for tungsten deposits.
Evidence · text
“15.69% WO₃ (12.45% W) - HOLA039”
High Gradepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Several rock chip samples returned high grades of tungsten, with approximately one in four samples collected exceeding 1% WO3.
Evidence · text
“7.76% WO₃ (6.16% W) - HOLA036”
High Gradepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Several rock chip samples returned high grades of tungsten, with approximately one in four samples collected exceeding 1% WO3.
Evidence · text
“4.96% WO₃ (3.94% W) - HOLA006”
High Gradepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Several rock chip samples returned high grades of tungsten, with approximately one in four samples collected exceeding 1% WO3.
Evidence · text
“4.45% WO₃ (3.53% W) - HOLA031”
Capital Raise Completedpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company successfully completed a placement to raise approximately $2.628 million.
Evidence · text
“The Placement was undertaken under a single tranche using the Company’s existing available capacity under ASX Listing Rules 7.1 and 7.1A and was completed on 12 August 2026.”
Deleterious Elements Presentnegative · Story-specific tag
Penalty elements (arsenic, antimony, etc.) or refractory concerns noted in the release.
Why it applies: Molybdenum is consistently associated with tungsten mineralisation, which can be a penalty element in some concentrates.
Evidence · text
“Assay results also indicated that molybdenum is consistently associated with tungsten mineralisation, returning an average assay of 0.026% Mo across the 18 samples, with a maximum value of 0.058% Mo”
Stale Data Re-releasenegative · Story-specific tag
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The document mentions historical aircore drilling results without indicating new assays or reinterpretation.
Evidence · text
“Historical workings at Hill of Leaders identified high-grade intersections from shallow aircore drilling”
Project Impairmentnegative · Story-specific tag
No canonical definition is currently available.
Why it applies: The Evelyn Dam Project was fully impaired due to the target being considered too deep for the company to drill.
Evidence · text
“Stelar has fully impaired the carrying value of the Evelyn Dam Project”
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Drill Results (3)
KWAC026Hill of Leaders · tungstenGrade: 0.6Grade Unit: %Intercept: 1 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- KWAC026
- Project
- Hill of Leaders
- Commodity
- tungsten
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- SLB
Geometry
- Grade
- 0.6
- Grade Unit
- %
- Intercept
- 1 m
- From
- 0 m
- To
- 1 m
- Intercept Depth
- 0 m
Classification
- Sample Type
- drill
- Group ID
- KWAC026:0-1
QA/QC
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: Historical aircore intercept shows tungsten mineralization, but it's narrow and from old data, limiting its novelty.
Positive factors
- historical_mineralization
Negative factors
- stale_data
- narrow_intercept
Evidence · text
“1m @ 0.60% WO3 (KWAC026 from surface)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
KWAC058Hill of Leaders · tungstenGrade: 0.167Grade Unit: %Intercept: 5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- KWAC058
- Project
- Hill of Leaders
- Commodity
- tungsten
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- SLB
Geometry
- Grade
- 0.167
- Grade Unit
- %
- Intercept
- 5 m
- From
- 10 m
- To
- 15 m
- Intercept Depth
- 10 m
Classification
- Sample Type
- drill
- Group ID
- KWAC058:10-15
QA/QC
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: Historical aircore intercept shows low-grade tungsten mineralization from old data, limiting its novelty and materiality.
Positive factors
- historical_mineralization
Negative factors
- stale_data
- low_grade
Evidence · text
“5m @ 0.167% WO3 (KWAC058 from 10m to EOH)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
KWAC119Hill of Leaders · tungstenGrade: 0.173Grade Unit: %Intercept: 5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- KWAC119
- Project
- Hill of Leaders
- Commodity
- tungsten
- Region
- australia_nt
- Reported Region
- australia_nt
- Ticker
- SLB
Geometry
- Grade
- 0.173
- Grade Unit
- %
- Intercept
- 5 m
- From
- 0 m
- To
- 5 m
- Intercept Depth
- 0 m
Classification
- Sample Type
- drill
- Group ID
- KWAC119:0-5
QA/QC
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
Dates
- Event date
- 2026-09-29T00:00:00.000Z
Reasoning: Historical aircore intercept shows low-grade tungsten mineralization from old data, limiting its novelty and materiality.
Positive factors
- historical_mineralization
Negative factors
- stale_data
- low_grade
Evidence · text
“5m @ 0.173% WO3 (KWAC119 from surface to EOH)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.