Industrial Minerals Stocks Fall: Estrella, Latrobe Magnesium and Arrow Minerals Shares Lower

Sonal Goyal

13 November 2026 02:47 PM AEDT

Industrial Minerals Stocks Fall: Estrella, Latrobe Magnesium and Arrow Minerals Shares Lower

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Key Highlights

Estrella Resources (ASX:ESR), Latrobe Magnesium (ASX:LMG) and Arrow Minerals (ASX:AMD) all traded lower during the 13 November 2026 session.
Estrella shares were down 12.00%, Latrobe Magnesium 7.14% and Arrow Minerals 7.69%.
The three companies are developing a limestone project in Timor-Leste, a magnesium plant in Victoria and an iron ore project in the Pilbara.

During the Trading session on 13 November 2026, Estrella Resources Ltd (ASX:ESR) shares were trading at $0.022, down 12.00%, Latrobe Magnesium Ltd (ASX:LMG) shares were at $0.013, down 7.14%, and Arrow Minerals Ltd (ASX:AMD) shares were at $0.024, down 7.69%. The S&P/ASX 200 was down 0.73% at 9,079.70 at 12:39 pm AEDT over the same session.

Estrella Resources (ASX:ESR)

Estrella's Werumata Limestone scoping study, dated 12 November 2026, reports a base case after-tax, pre-financing NPV10 of US$1,453 million and an IRR of 46%. Stage 1 requires initial Capital of US$117 million for a start-up operation of about 8 million tonnes a year. A master agreement for Indonesian offtake is in place, and a feasibility study is subject to board approval.

Latrobe Magnesium (ASX:LMG)

Latrobe Magnesium's Phase 1B plant was 98% installed and overall commissioning had reached 50% at the end of October 2026. The company remains on track to produce magnesium metal crowns above 98% purity by the end of 2026, and reports the project is tracking within its original budget.

Arrow Minerals (ASX:AMD)

Arrow has binding commitments to raise $5.5 million at $0.02 per share to advance its Pannawonica Iron Ore Project, which includes a 62.5 million tonne resource on granted Mining leases. Proceeds will fund drilling, test work and development studies toward a final Investment decision.

Final Word

The three companies have each reported progress in a different industrial mineral. Their coming studies, commissioning and drilling will show how these projects move forward.

FAQs

Q: What did Estrella's scoping study report?

A: A base case after-tax, pre-financing NPV10 of US$1,453 million and an IRR of 46%.

Q: What milestone does Latrobe target?

A: Magnesium metal crowns above 98% purity by the end of 2026.

Q: How much is Arrow raising?

A: Binding commitments to raise $5.5 million at $0.02 per share.

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