2 September 2016
ALL STAR MINERALS PLC
("All Star" or "the Company")
All Star wishes to provide an update on corporate developments.
David Bourne joined the board on 25 July 2016 as non-executive director. David is a qualified accountant and holds the FCA accreditation. David has many years’ business and finance experience to compliment the board composition.
It was resolved at the AGM that the Company was to broaden its investing strategy to include non-resource sectors. The sectors that may now be appraised are financial services, engineering and support services, renewable energy, construction and technology. The strategy will remain focused on the European, African and North American regions.
Following the change to the Company’s investing strategy, the board have been appraising a number of opportunities with talks being held and in some cases, confidentially agreements entered into.
Whilst at this time there can be no guarantee as to the outcome of any talks or opportunities being appraised, it provides an indication that the board is proactively seeking opportunities for the Company.
NQ Minerals Plc Stake
All Star maintains it holding of just over 5.5m shares in NQ Minerals Plc (“NQ Minerals”). Although the performance of NQ Mineral’s share price has proved to be disappointing so far in 2016, the board of All Star remains optimistic for the prospects of NQ Minerals given the tenement package that it owns and the drilling results as announced on 14 June 2016.
Furthermore, two directorate appointments were made by NQ Minerals on 22 and 30 August respectively. The individuals appointed are highly experienced mining professionals with many decades of experience.
In addition, the All Star board also notes that NQ Minerals recently raised US$150,000 at 8.4p. This was at a significant premium to the underlying share price and was another positive announcement made by NQ Minerals.
The board of All Star continues to await further news and drilling results from NQ Minerals to fully understand the potential of the Company.
The Directors of All Star are responsible for the contents of this announcement.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
All Star Minerals Plc
Tomas Nugent, Chairman
ISDX Corporate Adviser
Cairn Financial Advisers LLP
020 7148 7900