South Star Battery Metals Corp Stock Price, News & Analysis

South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) has announced the appointment of Tiago Cunha to its board of directors. Cunha, who serves as the manager of equity at Ace Capital, brings extensive experience in mineral resources and energy transition to the company.

CEO Richard Pearce welcomed Cunha's appointment, highlighting his role as a cornerstone supporter of South Star through Ace Capital. The company views this addition as strategically important as they focus on expanding their graphite production amid complex geopolitical conditions.

South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) has signed a Memorandum of Understanding (MOU) with the University of Alabama's Alabama Mobility and Power Center (AMP) to develop battery anode materials in the United States. The partnership will encompass four phases: R&D Development, Pilot Demonstration, Commercial Demonstration, and Commercial-Scale Manufacturing.

South Star will serve as the primary supplier of natural-flake graphite concentrate and AMP's internal reference natural-flake anode graphite material. The MOU provides a 45-day window to negotiate a definitive binding agreement.

The company's Santa Cruz project represents the first new graphite production in the Americas since 1996 and is currently ramping up commercial production in Brazil. Their BamaStar project is positioned as one of the few scalable flake graphite assets in North America, supported by U.S. Department of Defense funding and strong techno-economics.

South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) has successfully exercised its right to earn-in 75% of the BamaStar Graphite Project in Coosa County, Alabama, and subsequently acquired the remaining 25% to achieve 100% ownership. The company completed key requirements including: conducting drilling and resource estimation for a NI 43-101 compliant PEA, funding C$750,000 in minimum expenditures, and maintaining valid mineral leases.

The remaining 25% stake was acquired from the CML Owners for C$250,000 in South Star common shares, resulting in the issuance of 445,454 shares, pending TSX Venture Exchange approval. This strategic acquisition aligns with South Star's goal of developing diversified, vertically integrated graphite assets in Tier 1 jurisdictions. The company is transitioning from a project developer to a producing miner and integrated graphite processor in the Americas, with its Santa Cruz Mine in Brazil serving as the foundational asset.

South Star Battery Metals has completed the final tranche of its upsized, non-brokered private placement, raising total gross proceeds of US$3 million. The third tranche raised US$879,449.45 through the issuance of 2,045,231 Units, each priced at US$0.43 and including one common share and one purchase warrant.

The warrants are exercisable at US$0.89 for five years and include an acceleration clause. Insiders participated in Tranche 3 for US$29,440.45, with total insider participation across all tranches reaching US$936,798.50. The funds will support exploration, development, production activities, and working capital requirements.

The company paid finder's fees of US$40,000 and issued 55,813 common shares to A8 Capital Advisors Latam All securities are subject to a four-month hold period, and the closing is subject to TSX Venture Exchange approval.

South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) has increased its previously announced non-brokered private placement to US$3.2 million (CA$4.48 million) due to high demand. The private placement consists of units priced at US$0.43, each including one common share and one warrant exercisable at US$0.89 for five years.

The TSX Venture Exchange has extended the closing date to January 10, 2025. The proceeds will fund exploration, development, construction activities, corporate G&A, and working capital. The company has also amended its metals purchase and sale agreement with Sprott Private Resource Streaming and Royalty Corp., primarily to reflect organizational changes and add provisions for off-shore sales.

South Star Battery Metals has completed the second tranche of its non-brokered private placement, raising US$1,312,528. Combined with Tranche 1, total gross proceeds reach US$2,120,550.55. The placement consists of 3,052,390 Units at US$0.43 per unit, each including one common share and one purchase warrant exercisable at US$0.89 for 5 years. Insiders participated for US$812,528. Proceeds will fund exploration, development, production activities, and working capital. The company paid finder's fees of US$32,813.20 and issued 61,046 common shares. Units are subject to a four-month hold period and TSX Venture Exchange approval.

South Star Battery Metals (TSXV:STS)(OTCQB:STSBF) has announced the repricing of its non-brokered private placement. The new offering consists of units priced at US$0.43 per share with one warrant at US$0.89, valid for five years, aiming to raise up to US$2.5 million. The warrants include an acceleration clause that can be triggered if the stock trades above US$1.79 for ten consecutive days. The company may increase the placement size by 15% through an over-allotment option. Proceeds will fund exploration, development, and working capital. Additionally, shareholders have approved a new 10% rolling omnibus incentive plan, with 1,605,000 stock options and 334,035 RSUs currently issued.

South Star Battery Metals announced positive PEA results for its BamaStar Graphite Project in Alabama, showing a pre-tax NPV8% of US$2.4B and IRR of 35%. The project includes a 19-year open-pit mine producing an average of 47,147 tpy of graphite concentrate, with a significant 2.4x increase in Mineral Resources containing over 1Mt of graphite. The plan involves a phased development with two concentrator phases producing 25,000 tpy each, and a value-add plant in Mobile, AL with three phases producing 20,600 tpy each of upgraded graphite products. The project demonstrated successful preliminary electrochemical testing results comparable to Tier-1 commercial products.