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 23 April 2015, Resource Star Limited (ASX: RSL) announced it had conditionally agreed to acquire up to a 60% interest in Sugar Dragon via payments totalling $4,125,000. An inital paymet of $500,000 representing a 15% interest in Sugar Dragon has been received. Sugar Dragon is now seeking a liquidity event via an IPO, RTO/backdoor listing or other transaction on Australian, UK or other exchanges and is well advanced in discussions with various parties in this regard.
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