Resource Star Limited (ASX:RSL) seeks to identify new opportunities in the resources sector that have the capacity to add shareholder value. However, given market sentiment worldwide, the number of appropriate and well-priced opportunities continues to diminish and the Company is looking beyond the energy sector. The Company is currently working on a number of potential opportunities.
The Company continues to hold exploration interests in Malawi and Australia, including a 0.7% gross royalty interest in the Machinga niobium-rare earth project of Globe Metals and Mining Ltd (ASX:GBE).
The Company has operated as a mineral explorer since 2007, predominantly in the uranium and rare earth sectors in Australia and in Malawi.
On 30 June 2015, Resources Star Limited (ASX:RSL) announced the termination of its agreement with Sugar Dragon Ltd. On the 23rd of April 2015 RSL had conditionally agreed to acquire up to 60% interest in Sugar Dragon via payments totalling $4,125,000. An inital paymet of $500,000 representing a 15% interest in Sugar Dragon will be retained and has been converted into 7,692,307 fully paid ordinary shares of Sugar Dragon at a conversion price of AUD 0.065 per share.
Click here to read more about our current projects.