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LONDON - East Star Resources Plc (LSE:EST), a copper and gold exploration company operating in Kazakhstan, announced Monday it has extended the expiry date of 35,199,667 warrants originally set to expire on October 15.
The warrants, which have an exercise price of 3p, will now expire on December 31, 2025, representing a two-and-a-half-month extension. These warrants were initially issued as part of a placing announced on October 2, 2023.
The company noted that Chief Executive Officer Alex Walker, who holds 1,254,679 of the affected warrants from his participation in the 2023 placing, abstained from the Board vote approving the extension.
East Star Resources focuses on copper and gold exploration in Kazakhstan, pursuing volcanogenic massive sulphide exploration and copper porphyry and epithermal gold exploration. According to the press release statement, the company has established a maiden JORC Mineral Resource Estimate of 20.3Mt at 1.16% copper, 1.54% zinc, and 0.27% lead in one of its deposit areas.
The announcement was classified as inside information under UK Market Abuse Regulation guidelines.
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