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Resource Star www.resourcestar.com.au/

Resource Star (ASX: RSL) has interests in uranium exploration assets in the Northern Territory, Western Australia and Malawi.

 

The company's main projects include joint ventures with Globe Metals and Mining on the Livingstonia Uranium Project and Machinga Rare Earths Project in Malawi, the 100%-owned Edith River Uranium Project in the Northern Territory and the Spinifex joint venture with Thundelarra Resources in Western Australia.

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Resource Star chairman acquires more shares on market

Resource Star (ASX: RSL) chairman Andrew Bell has purchased an additional 500,191 shares in the company for a total consideration of $12,298, providing an average entry price of $0.02 per share.

Bell now holds around 14.5 million fully paid shares, 9.9 million listed options and 2 million unlisted options following his most recent investment.

Resource Star is advancing its Livingstonia uranium project in Malawi, with plans to complete a new round of exploration following a $1.14 million capital raising.

The company is earning up to an 80% stake in Livingstonia from joint venture partner Globe Metals and Mining (ASX: GBE).

In November 2011 an extension to the northern boundary of one tenement at the project was granted, boosting the project’s exploration potential.

The additional 400 metres of land lies to the north of the existing Inferred Resource at the Chombe prospect.

Chomba hosts an Inferred JORC Resource of 8.3 million tonnes at 325 parts per million uranium oxide equivalent for a contained 6 million pounds of uranium oxide.

Resource Star is also advancing its other exploration projects, which include the Machinga Joint Venture and Ilomba Hill Joint Venture in Malawi as well as the Spinifex Joint Venture and the Edith River Project in Australia.

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