Estrella Resources Limited (ASX: ESR), a company focused on mineral exploration, primarily within Western Australia, announced on 4 May 2026 the receipt of the final $4,005,000 under Tranche 2 of its Listed Options underwriting agreement. The company confirmed that these funds have been received in full from its counterparty, Million Link (China) Investment Ltd, in accordance with the terms previously disclosed on 31 March 2026. This receipt finalises the financial component of the agreement.
The underwriting agreement, first announced in March, covered the exercise of a total of 445,000,000 Options, referred to as “Underwritten Options.” These options, with an exercise price of $0.018 per ESROB Option, equate to an aggregate Underwritten Amount of $8,010,000 before associated costs. With the Tranche 2 funds now successfully received, Estrella Resources Limited will proceed to complete its payment terms with Million Link.
Under the terms of the agreement, Million Link underwrote the ESROB Options, which have an expiry date of 13 December 2026. The underwriter is entitled to costs equivalent to 8% of the total proceeds. Additionally, for every $1,000,000 of underwriting received by the company, the underwriter will receive 10,000,000 new unlisted 3-year options with an exercise price of $0.045, converting into ESR FPOS. This arrangement ensures the company has secured the full $8,010,000 before costs, strengthening its financial position. The announcement was approved by the Board of Estrella for release to the ASX.
