# Star Royalties Highlights Positive Copperstone Construction Decision and PFS Results by Minera Alamos Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/star-royalties-highlights-positive-copperstone-construction-decision-and-pfs-res--32975347-9d5a-4de7-9ef8-743d8af02e75 Original source: https://money.tmx.com/en/quote/STRR/news/7343661387935545/star-royalties-highlights-positive-copperstone-construction-decision-and-pfs-res Publisher: tmx Original announcement: 2026-05-29T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Star Royalties Ltd. - Ticker: STRR - Exchange: TSX - Region: Arizona - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Economic study - Extracted: 2026-09-18 23:17:48 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Star Royalties highlights the positive Pre-Feasibility Study \(PFS\) results for the Copperstone Gold Project, which features an after-tax NPV5% of $374 million and an IRR of 108%. The project, owned by Minera Alamos, has received a construction decision with initial production expected in mid-2027, significantly increasing the value of Star Royalties' 4% gold stream. Reasoning: The announcement highlights a high-return PFS for the Copperstone project, which directly increases the value of Star Royalties' 4% gold stream. The resource expansion and strong economics provide significant upside. - Positive factor: Exceptional IRR of 108% in PFS - Positive factor: Significant resource growth \(110% increase in contained gold\) - Positive factor: Rapid payback of 1.2 years - Positive factor: Construction decision approved by Minera Alamos Facts used in scoring: 3 ## Classification and evidence **PFS Complete** Polarity: positive Definition: AACE Class 3 study complete. Why it applies: The document reports results from a Pre-Feasibility Study \(PFS\) for the Copperstone project. Evidence · text > results of the Pre‑Feasibility Study \(“ PFS ”\) announced by Minera Alamos Inc. **High IRR** Polarity: positive Definition: Post-tax real unlevered IRR in the strong tier or better. Why it applies: The PFS reports an after-tax IRR of 108%, which is in the exceptional tier. Evidence · text > after‑tax IRR of 108% **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Contained gold ounces increased by 110% compared to the previous mineral resource estimate. Evidence · text > represent a 110% increase in contained gold ounces compared to the previous mineral resource estimate **Fast Payback** Polarity: positive Definition: Payback in the strong tier or better, on the required basis. Why it applies: The payback period is 1.2 years, which is in the strong tier. Evidence · text > payback of 1.2 years **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The source explicitly discloses a revised resource estimate Evidence · text > increased resource ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/star-royalties-highlights-positive-copperstone-construction-decision-and-pfs-res--32975347-9d5a-4de7-9ef8-743d8af02e75#fact-resource-facts-1) Copperstone · gold #### Identity - Project: Copperstone - Commodity: gold - Region: usa\_az - Reported Region: Arizona - Ticker: STRR #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:1ce48b007a191c8b94cf - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4054000 - Grade: 4.83 - Grade Unit: g/t - Contained Metal: 630 - Contained Unit: koz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-29T00:00:00.000Z Reasoning: Strong resource expansion reported. - Positive factor: Significant contained metal growth Evidence · text > Measured & Indicated Resources of 4,054 kt grading 4.83 grams per tonne gold \(“ g/t ”\) and containing 630 koz gold #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/star-royalties-highlights-positive-copperstone-construction-decision-and-pfs-res--32975347-9d5a-4de7-9ef8-743d8af02e75#fact-resource-facts-2) Copperstone · gold #### Identity - Project: Copperstone - Commodity: gold - Region: usa\_az - Reported Region: Arizona - Ticker: STRR #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - Resource group id: resource:f9189305371dd2e339a1 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 1934000 - Grade: 4.87 - Grade Unit: g/t - Contained Metal: 303 - Contained Unit: koz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-29T00:00:00.000Z Reasoning: Declaration of maiden reserves. - Positive factor: Maiden reserve declaration Evidence · text > maiden Proven & Probable Reserves of 1,934 kt grading 4.87 g/t and containing 303 koz gold have been declared. #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.