# SMS: Australian Gold Conference Presentation - October 2026 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152158 Publisher: asx Original announcement: 2026-10-13T22:56:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-13T23:48:44.371Z Atlas analysis updated: 2026-10-13T23:48:44.371Z - Company: Star Minerals Limited - Ticker: SMS - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: Copper - Document categories: Other, Drill results - Extracted: 2026-10-13 23:48:45 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Star Minerals is transitioning to a gold producer following the commencement of mining at the Tumblegum South Gold Project in May 2026. The company has established an ~84kt ROM stockpile and has secured a toll treatment agreement with Catalyst Metals to process up to 250kt of ore. Reasoning: Corporate presentation outlining the transition from explorer to producer via the Tumblegum South project, highlighting existing stockpiles and strategic partnerships. - Positive factor: Transition to gold producer status - Positive factor: Established stockpile of ~84kt ROM gold - Positive factor: Strategic toll treatment agreement with Catalyst Metals - Positive factor: Strong gold price environment - Negative factor: Mining currently paused at 445mRL for grade control - Negative factor: Reliance on third-party milling and mining contractors Facts used in scoring: 6 ## Classification and evidence **Stale Data Re-release** Polarity: negative Story-specific tag Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The presentation contains several historical drill results from 2022 and 2025 without providing new assay data. Evidence · text > Previously reported drill results: ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### TGRC060 [Link to this fact](https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77#fact-drill-facts-0) Tumblegum South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TGRC060 - Project: Tumblegum South - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: SMS #### Geometry - Grade: 3.3 - Grade Unit: g/t - Intercept: 8 m - From: 73 m - To: 81 m - Intercept Depth: 73 m #### Classification - Sample Type: drill - Group ID: TGRC060:73-81 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-08-19T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical drill result restated in presentation. - Positive factor: Strong grade intercept - Negative factor: Historical data Evidence · text > 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Previously reported drill results: • 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 including 1 m @ 12.70 g/t Au from 76 m " ### TGRC060 [Link to this fact](https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77#fact-drill-facts-1) Tumblegum South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TGRC060 - Project: Tumblegum South - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: SMS #### Geometry - Grade: 12.7 - Grade Unit: g/t - Intercept: 1 m - From: 76 m - To: 77 m - Intercept Depth: 76 m #### Classification - Sample Type: drill - Group ID: TGRC060:76-77 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-08-19T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical high-grade sub-interval restated in presentation. - Positive factor: High grade sub-interval - Negative factor: Historical data Evidence · text > 1 m @ 12.70 g/t Au from 76 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Previously reported drill results: • 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 including 1 m @ 12.70 g/t Au from 76 m " ### TGRC013 [Link to this fact](https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77#fact-drill-facts-2) Tumblegum South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TGRC013 - Project: Tumblegum South - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: SMS #### Geometry - Grade: 2.49 - Grade Unit: g/t - Intercept: 14 m - From: 63 m - To: 77 m - Intercept Depth: 63 m #### Classification - Sample Type: drill - Group ID: TGRC013:63-77 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-08-19T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical drill result restated in presentation. - Positive factor: Significant width - Negative factor: Historical data Evidence · text > 14 m @ 2.49 g/t Au from 63 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Previously reported drill results: • 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 including 1 m @ 12.70 g/t Au from 76 m " ### TGRC013 [Link to this fact](https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77#fact-drill-facts-3) Tumblegum South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TGRC013 - Project: Tumblegum South - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: SMS #### Geometry - Grade: 2.74 - Grade Unit: g/t - Intercept: 4 m - From: 96 m - To: 100 m - Intercept Depth: 96 m #### Classification - Sample Type: drill - Group ID: TGRC013:96-100 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-08-19T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical drill result restated in presentation. - Negative factor: Historical data Evidence · text > 4 m @ 2.74 g/t Au from 96 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Previously reported drill results: • 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 including 1 m @ 12.70 g/t Au from 76 m " ### TGRC014 [Link to this fact](https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77#fact-drill-facts-4) Tumblegum South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TGRC014 - Project: Tumblegum South - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: SMS #### Geometry - Grade: 6.9 - Grade Unit: g/t - Intercept: 4 m - From: 109 m - To: 113 m - Intercept Depth: 109 m #### Classification - Sample Type: drill - Group ID: TGRC014:109-113 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-08-19T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical drill result restated in presentation. - Positive factor: Strong grade - Negative factor: Historical data Evidence · text > 4 m @ 6.9 g/t Au from 109 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Previously reported drill results: • 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 including 1 m @ 12.70 g/t Au from 76 m " ### TGRC014 [Link to this fact](https://atlas-staging.minestarters.com/news/sms-australian-gold-conference-presentation-october-2026--d3426a85-c177-4bba-8eca-40e6151cbf77#fact-drill-facts-5) Tumblegum South · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TGRC014 - Project: Tumblegum South - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: SMS #### Geometry - Grade: 2.85 - Grade Unit: g/t - Intercept: 4 m - From: 115 m - To: 119 m - Intercept Depth: 115 m #### Classification - Sample Type: drill - Group ID: TGRC014:115-119 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-08-19T00:00:00.000Z #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Historical drill result restated in presentation. - Negative factor: Historical data Evidence · text > 4 m @ 2.85 g/t Au from 115 m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Previously reported drill results: • 8 m @ 3.30 g/t Au from 73 m in hole TGRC060 including 1 m @ 12.70 g/t Au from 76 m " ## 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.