Estrella Resources and its partner PT Raka Energi Mandiri have agreed to extend key project milestones for their Werumata limestone venture in Timor-Leste, reflecting internal delays but maintaining a positive outlook.
- Milestone deadlines extended into 2026 for permits, resource announcement, and scoping study
- JORC-compliant limestone resource target set at minimum 500 million dry metric tons
- Drilling to commence soon following environmental permit approvals
- Strong partnership between Estrella and REM continues despite timeline shifts
- Project advancing towards mining license application with community engagement underway
Project Timeline Extensions
Estrella Resources Limited (ASX, ESR) and its wholly owned subsidiary PT Raka Energi Mandiri (REM) have agreed to extend several key milestone deadlines under their Master Agreement for the Werumata limestone project in Timor-Leste. Originally set to be completed by the end of 2025, milestones including obtaining mining permits, announcing a JORC-compliant limestone resource, completing a positive Scoping Study, and securing port infrastructure approvals have now been pushed into 2026.
The revised deadlines reflect internal resource constraints that have delayed some exploration activities. Specifically, the deadline for obtaining all material licenses and permits for mining and export has been extended from 31 December 2025 to 31 March 2026. Similarly, the announcement of a JORC-compliant limestone resource of at least 500 million dry metric tons is now expected by 30 November 2025, while the completion of the Scoping Study has been moved to 30 January 2026. Port infrastructure approvals required for export are now targeted for 30 June 2026.
Project Significance and Outlook
The Werumata limestone project represents a significant opportunity for Estrella, with the potential for a large-scale, homogeneous limestone resource. Managing Director Chris Daws highlighted the strength of the partnership with REM and expressed confidence in a rapid re-acceleration of limestone exploration activities. He noted the company’s strong track record in Timor-Leste, referencing the swift progress made in manganese asset development as a positive precedent.
Drilling activities are expected to commence shortly following the recent granting of environmental exploration permits. Community consultation and land access agreements have been completed, paving the way for initial drilling and resource evaluation. Once drilling concludes and a resource is identified, Estrella plans to finalize a Scoping Study and environmental management plans, which will support the application for a mining license from the Timor-Leste government.
Maintaining Momentum Amid Delays
While the extension of milestone timelines may raise questions about project pace, Estrella’s leadership remains optimistic. The company emphasizes that the variation to the Master Agreement does not affect other terms and that the partnership with REM remains strong and supportive. The geological simplicity and scale of the Werumata limestone deposit allow for targeting a large inferred resource within a relatively short timeframe once exploration activities resume at full speed.
Overall, the milestone extensions appear to be a strategic adjustment rather than a setback, allowing Estrella to align internal resources and regulatory processes effectively. The company’s proactive community engagement and environmental compliance efforts further strengthen its position as it advances toward commercial development.
Bottom Line?
Estrella’s timeline extension signals a measured approach to unlocking Werumata’s limestone potential, with market eyes now on upcoming drilling results and regulatory progress.
Questions in the middle?
- How will the extended timelines impact Estrella’s overall project valuation and financing plans?
- What are the detailed reasons behind the internal resource delays, and how are they being addressed?
- When can investors expect the final mining license application and potential production start?