FOR PERIOD ENDING 31 MARCH 2015
ASX Code: FASContact Details
Unit 3, 136 Main Street, Osborne Park WA 6017
PO Box 1520
Osborne Park WA 6916
T: 08 9242 5111
F: 08 9242 5677
E: admin@fairstarresources.com
W: www.fairstarresources.com
ABN 38 115 157 689
Capital Structure
29th April 2015Ordinary Shares on issue: 1,903 M
Share price: $ 0.004
Estimated market capitalisation: $ 7.61 M
Directors
Kevin J Robertson MAICDManaging Director
John-Pierre ReiflerChairman Non Executive
Con MarkopoulosDirector Non Executive
David Allan RossiterDirector Non Executive
Company Secretary
Madhukar Bhalla Highlights for the March 2015 Quarter:• Development has continued to achieve full funding for the Steeple Hill Iron Project
During the Quarter, the Company has continued to aggressively pursue, with the assistance of Creafin & Associates, the required financing to enable the project to move forward into production.
Although the global price of iron ore has had some effect on the negotiations, Creafin & Associates are confident of a positive outcome in the near future.
All other tenements held by or managed by the Company are in good standing as per the requirements of the DMP.
Name of Project Ownership Name of Prospect Tenement Number
Steeple Hill FairStar Lindsay's Dam E28/1672, E28/1766,
Iron Project M28/373,
L28/38-40 (P), L28/43(P), E28/1997
Kurnalpi-Randalls FairStar Kurnalpi North (Halfway Hill) E28/1749, P28/1134 &
& South (Area 9) P28/1135
Jurangie Hill E28/1687
FairStar 90%/
Westex 10% Kurnalpi East - Colour Dam E28/1748, P28/1131, P28/1133
M25/349
E51/1147
Tenement Portfolio consists of the following:
17 Tenements: 7 Exploration, 4 Prospecting, 2 Mining, 4 Miscellaneous Licences - Pending
About FairStar Resources Background, FairStar - A New Horizon:
FairStar was listed in October 2006 and is a unique Perth-based uranium and gold explorer; and upon discovering Iron mineralisation at Lindsay's Dam commenced with its major Steeple Hill Iron Project (SHIP) that is strategically located near existing transport infra-structure with a clear and unencumbered path to production for relatively low capital expenditure.
FairStar will fast track development and production of its high-value Steeple Hill Iron Project with significant Indicated Resource estimate of hematite rich gravels, which produces a hematite fraction of Direct Shipping Ore to deliver immediate and substantial cash flows.
Significantly, FairStar believes it will be cash flow positive from its first year of production at SHIP.
This will be used to increase shareholder value and fund further high-value projects such as the gold tenements at Kurnalpi and Duchess of York - Hickmans Find, along with uranium at Mt Padbury.
FairStar has an extensive portfolio of projects straddling 562 Km2 and remains committed to an aggressive expansion campaign to bolster its resource inventory and quickly transition the company from a junior explorer to a highly competitive producer of iron ore, gold and uranium.
distributed by |