East Star Resources (LSE:EST) - Drilling Through 2027 on Kazakhstan Copper and Gold Assets

East Star retains fixed, carried equity stakes in three Kazakhstan copper/gold JVs funded entirely by partners, avoiding dilution risk through to production.

• Three carried JVs: East Star keeps fixed equity in each asset — 30% of Verkhuba (Xinhai-funded), 25-35% of Rulikha (Nova HoA), 20% of Endeavour gold JV — without funding construction or taking dilution risk.
• Verkhuba advancing fastest: 20.3Mt at 1.16% Cu JORC inferred resource; two rigs drilling past 5,000m before winter; Xinhai pegs plant capex at ~$65m for a 1Mtpa operation; mining licence application underway.

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