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Brightstar Resources
Overview
The price of gold is nearing a record high. Earlier this year, it topped $2,041.30 per ounce — the second-highest value in history. And there is every indication the previous metal's value will only continue to climb.
The reason is multifaceted. The world teeters on the brink of a severe recession. Amidst ballooning interest rates, bank failures and falling bond yields, demand for gold continues to rise.
This is to be expected, as bullion almost always becomes a hot commodity during times of economic uncertainty. At this precise moment, gold is simultaneously an excellent portfolio diversifier and a compelling hedge against ongoing inflation — particularly if one invests in the right company.
Brightstar Resources (ASX:BTR) aims to be that company. An emerging mining and development company, Brightstar occupies a strategic land position of roughly 300 square kilometers in the Laverton Tectonic Belt and 140 square kilometers of the Menzies Shear Zone.
The company also owns an existing processing facility that can potentially provide tremendous shareholder value in a low-capital cost restart scenario. In fact, Brightstar has engaged experts for a scoping study to assess the refurbishment of its wholly owned onsite processing plant.
That plant, once fully refurbished and operational, could prove a key differentiator for the company, enabling fast gold production at a low capital cost. This is especially noteworthy given that many other gold companies trading on the ASX are largely focused on greenfield exploration and development. Even once those companies discover a promising resource, mining and processing facilities would still need to be built, undertakings which can incur significant upfront capital costs and take a number of years.
Brightstar also recently finalized a merger agreement with Kingwest Resources (ASX:KWR), under which Brightstar acquired 100 percent of the shares in Kingwest. From a strategic standpoint, this merger has allowed the two companies to consolidate their assets, resulting in combined JORC mineral resources of roughly 1 million ounces, all on granted mining leases.
The strategic merger also allows Brightstar to accelerate development and expansion of its existing mineral resources while also establishing the company as a potential near-term developer.
Brightstar's Laverton Gold Project assets are all centered on a 100%-owned 300-square-kilometer tenure in the Laverton Tectonic Zone and all within 70 kilometers of the Laverton Processing Plant. Additionally, all resources within this zone are open along strike and at depth. Only minor drilling programs have been conducted in recent years, paving the way for significant exploration upside with the potential for further regional and greenfields discoveries.
Brightstar also owns 100% of the Menzies Gold Project, a contiguous land package of granted mining leases over a strike length of roughly 15 kilometers along the Menzies Shear Zone and adjacent to the Goldfields Highway.
Company Highlights
- Brightstar Resources is an emerging ASX-listed mining and development company with more than one million ounces of gold resources and potential on-site processing infrastructure.
- The company has engaged experts to conduct a scoping study of its processing infrastructure with the goal of refurbishing and potentially expanding it.
- Once refurbished, this infrastructure will allow Brightstar to fill a growing investment void for near-term gold developers in Western Australia, producing large quantities of gold at low capital cost.
- Brightstar's mineral assets are situated across roughly 300 square kilometers of 100-percent-owned land in the Laverton Tectonic Zone. Together, they account for a current total JORC Resource of more than a million ounces.
- Brightstar’s Menzies Gold Project is a highly promising asset which has already undergone extensive historic mining and development. The Menzies Gold Project's total current resource estimate is 11.7 Mt @1.33 g/t gold for 505koz gold (40 percent measured and indicated; 60 percent inferred)
- Brightstar plans to continue generating shareholder value through a combination of development and strategic acquisitions along with some exploration.
Key Projects
Brightstar Processing Facility
Situated close to Brightstar's existing mineral assets at Laverton, the Brightstar Processing Plant provides the company with a considerable operational head start over its peers. The 485 kilo-tons per annum carbon-in-leach plant is currently on care and maintenance. Brightstar is assessing a refurbishment and expansion strategy for the plant, building on a 2021 report from Cosmo Engineers.
Highlights:
- Extensive Infrastructure: Current facilities at the plant include two ball mills, a power station and gravity and elution circuits. Other infrastructure includes:
- A tailings storage dam
- An on-site process water pond
- An operational 60-person accommodation camp
- An airstrip at the nearby Cork Tree Well Project
- Vehicles and equipment including a forklift, bobcat, two loaders, multiple light vehicles and a 30-tonne crane.
- A Leg Up Over Competitors: The presence of pre-existing processing infrastructure represents significant time savings compared to greenfields development.
- Low Upfront Capital Cost: A 2021 report from Cosmo Engineers showed that fully refurbishing the plant to a 650-ktpa throughput represents a capital cost of roughly $5.5 million, including $1.9 million in owner's costs and a 30 percent contingency.
- Further Expansion: In June 2023, Brightstar announced that it has engaged a team of independent experts to conduct a scoping study which will assess refurbishment requirements and expansion opportunities.
- Close to Existing Assets: Brightstar's three major development projects — Cork Tree Well, Beta and Alpha — are all in close proximity to the plant.
Cork Tree Well
Cork Tree Well is a former operating mine, producing 45 koz of gold over its lifespan. Located roughly 35 kilometers north of Laverton on Bandya Station Road, the project’s JORC 2012-compliant mineral resource of 5,610 kilotons (kt) at 1.4 g/t for 252 koz of gold has increased by 20 percent to 303 koz, delivering a combined JORC Resource base of 1.02 million ounces gold from the Laverton and Menzies gold projects.
Highlights:
- Promising Drilling Results: Two 6,000-meter drill programs were completed in late 2022, and in the first quarter of 2023 delivered an uplift in tonnages and ounces at a discovery cost of AU$30 per ounce. The JORC 2012 Mineral Resource Estimate increased by 20 percent to 303 koz delivering a combined JORC Resource base of 1.02 million ounces of gold and representing a 65-percent increase to the indicated ounces to 157 koz @ 1.6g/t gold. These results further provide a more robust base for mining scoping studies.
- Upcoming Feasibility Studies: The drilling program will underpin several feasibility studies that Brightstar intends to conduct later this year. At present, Brightstar has defined a resource envelope over a strike length of approximately 1 kilometer and down to 200 meters.
- Area Geology: The Cork Tree deposit is situated along the western limb of the Erlistoun synclical structure, a sequence which includes mafic volcanic lavas, tuffs and tuffaceous sediments alongside minor interflow graphitic shales and banded iron formation. The mine itself consists of chlorite schist-altered high-magnesium basalt footwalls overlain by graphitic shales containing banded iron and chert beds. Gold mineralization is contained within sediments intruded by concordant porphyry sills spanning the length of the mineralized zone.
Menzies Gold Project
Situated 130 kilometers north of the globally significant Kalgoorlie gold deposit, Menzies represents one of Western Australia's leading historic gold fields. The project, fully owned and operated by Kingwest prior to its merger with Brightstar, consists of a contiguous land package of a strike length in excess of 15 kilometers. All deposits are now 100-percent-owned by Brightstar and lie within granted mining leases.
Brightstar intends to leverage its processing infrastructure to monetise the high-grade open pit ounces produced by this mine.
Highlights:
- Significant Historical Production: Menzies has hosted multiple historically mined high-grade gold deposits which together produced a total of over 800,000 ounces at 19 g/t gold. This includes 643,000 oz @ 22.5 g/t gold from underground.
- Profit Sharing: Brightstar and BLM Ventures have a 50/50 profit-sharing joint venture agreement to exploit the Selkirk deposit at Menzies. Under this agreement, Brightstar is responsible for capital costs, mining and haulage. The joint venture also has a toll treating agreement with St Barbara Limited (ASX:SBM) to process ore from Selkirk at Leonora.
- Area Geology: The Menzies Gold Project is hosted along the Menzies Shear Zone in the western margin of the Menzies greenstone belt. It displays a geologic setting similar to the Sand Queen Gold Mine at Comet Vale.
LAVERTON GOLD PROJECT – OTHER RESOURCES
Beta
Located immediately adjacent to the Brightstar Plant, the Beta Project includes a 60-person camp. It contains a combined JORC 2012-compliant mineral resource of 1,882 kt at 1.7 g/t for 102 koz of gold. The deposit occurs along the Eastern Margin of the Laverton Tectonic Zone, notable for hosting multiple major gold occurrences including Granny Smith, Keringal, Red October and Sunrise Dam.
Alpha
Hosting a combined JORC 2012-compliant mineral resource of 1,452 gold at 2.3 g/t for 106 koz, the Alpha Project. Future exploration programs and feasibility studies will seek to potentially capitalize on Alpha's close proximity to Beta.
Management Team
Alex Rovira - Managing Director
Alex Rovira holds a Bachelor of Science (geology) and Bachelor of Commerce (corporate finance) from the University of Western Australia, and for the past nine years has been working as an investment banker at a global financial services company that focused on the metals and mining sector.
Greg Bittar – Non-Executive Chairman
Greg has extensive experience in public and private markets mergers and acquisitions, capital markets and strategic advisory assignments across a range of sectors including general industries, metals and mining, mining services and energy.
Jonathan Downes - Non-executive Director
Jonathan Downes has more than 25 years’ experience in the mining industry and has worked in various geological and corporate capacities. He has worked with nickel, gold and base metals and has also been intimately involved with numerous private and public capital raisings.
Josh Hunt - Non-executive Director
Josh Hunt is an experienced capital markets and M&A lawyer and has extensive experience in all aspects of mining and energy project acquisitions and disposals and general mining legislation compliance throughout Australia. Hunt has advised on numerous IPOs, fundraisings, and acquisitions by both public and private companies on the ASX and internationally. He will assist the Brightstar board with corporate governance, company law and capital market management going forward.
Tony Lau - Non-executive Director
Tony Lau is currently the chief financial officer of Stone Group Holdings based in Hong Kong. Lau has worked at PricewaterhouseCoopers Hong Kong for 12 years. Over the past two decades, he has been advising numerous Chinese companies on IPOs and capital raising in the Hong Kong capital market and investing in the mining industry in Australia.
Norfolk Metals
Overview
Norfolk Metals (ASX:NFL) is an ASX-listed exploration company focused on its uranium in South Australia and Argentina. The company’s flagship property is the Orroroo uranium project in South Australia. It also holds a gold-copper project, the Roger River Property in Tasmania. Norfolk Metals is currently focused on advancing its uranium project and evaluating uranium assets for acquisition. In April 2024, the company announced it is acquiring the Las Altares uranium project in Argentina, through an exclusivity agreement with Green Shift Commodities.
Uranium prices have been on an upward trajectory since 2023, with prices rising from less than $50/lb to over $100/lb in 2024. The prices are currently hovering around $90/lb and could increase further, driven by a supply deficit. Kazatomprom, the world's largest uranium miner, announced in February 2024 that it is reducing uranium production. The company said production levels at its operations in Kazakhstan are anticipated to remain 20 percent lower, chiefly attributed to the sulfuric acid shortage prevailing in the country. Cameco, the world’s largest publicly traded uranium supplier, has provided a 2024 production guidance which is also not very bullish.
While the supply remains challenging, the demand continues to ramp up. The surge in uranium demand has been predominantly fueled by heightened utility contracting, a trend that offers robust support and sustainability to elevated price levels. The World Nuclear Association’s Nuclear Fuel Report indicates that global nuclear reactor demands are projected to almost double by 2040, rising from 65,650 tU in 2023 to 130,000 tU in 2040. According to Sprott, utilities have nearly 1.5 billion pounds of uncovered uranium requirements through 2040, compared to current annual production of around 150 Mlbs. Further, substantial underinvestment in new mining projects has exacerbated an already constrained supply side, leading to prolonged strain in the years ahead.
The uranium market appears to remain firmly in an uptrend driven by rising demand and constrained supply. Elevated prices also enhance the prospects for junior miners to progress their projects and potentially secure future supply agreements with utilities.
Norfolk Metals boasts uranium assets in a tier-1 mining jurisdiction of South Australia. The recent maiden drill program at the Orroroo project intersected a uranium-bearing floodplain, boosting confidence in the potential of the project.
Norfolk continues to review complementary projects with plans to expand its uranium project suite. In 2024, the company signed an exclusivity agreement with Green Shift Commodities (TSXV:GCOM) to acquire Las Alteras uranium project in Argentina. Las Alteras is surrounded by non-JORC foreign estimates at URAmerica’s Meseta Central deposit (19.1 Mlbs U308), CNEA’s Cerro Solo deposit (11.49 Mlbs U308), ISO Energy’s Laguna Salada deposit (10.1 Mlbs U308), along with the Cerro Condor and Los Adobes historical uranium mines.
Company Highlights
- Norfolk Metals is an ASX-listed uranium-focused explorer with assets located in South Australia (Orroroo uranium project), Argentina (Las Alteras uranium project) and Tasmania (Roger River gold/copper project).
- The primary focus is on advancing the Orroroo uranium project located in the Walloway Basin in South Australia. Orroroo comprises three granted exploration licenses, which together cover 723 square kilometres. of contiguous tenements. The land holding is divided into three project areas named Orroroo, Johnburgh and Black Rock.
- Orroroo has geological similarities to well-endowed South Australian uranium producers such as Boss Energy’s Honeymoon Uranium project and Heathgate Resources’ Four Mile mine.
- Norfolk completed a maiden drill program at Orroroo which delineated uranium in 10 of the 17 holes with grades reaching as high as 796 ppm. The maiden drill program also identified a uranium-bearing floodplain 50 meters south of the Wongway Creek Target.
- In Argentina, Norfolk has signed an exclusivity agreement with Green Shift Commodities to acquire Las Alteres uranium project, a project surrounded by multiple uranium deposits and historical mines in every direction including the Cerro Solo government owned deposit
- The Roger River Project comprises two granted exploration licenses, which together cover 261 square kilometers, located in Tasmania. The project is prospective for gold and copper.
- Norfolk is evaluating other projects for acquisition, which includes complementary projects to the South Australian uranium project suite.
- Uranium prices are likely to remain firm on the back of supply deficit. Kazakhstan, the world’s largest uranium supplier, has warned of lower production in 2024, while demand continues to remain high as governments around the world embrace nuclear power to reduce reliance on fossil fuels.
Key Projects
Orroroo Uranium Project
The Orroroo uranium project consists of three exploration licenses - EL6552, EL6814, and EL6948 - spanning a total of 723 square kilometers, situated roughly 274 kilometers northwest of Adelaide, South Australia. The large land holding is divided into three project areas named Orroroo, Johnburgh and Black Rock.
Orroroo lies within the Walloway Basin, an underexplored uranium region characterized by sediments of similar age to those found in the nearby Frome Embayment, where Boss Energy’s Honeymoon project is located.
Norfolk Metals completed a two-phase drilling program at Orroroo Project (EL6552), identifying uranium in 10 of 17 holes with grades reaching as high as 796 parts per million (ppm). Phase 2 of the drill program also identified a uranium-bearing floodplain 50 meters south of the Wongway Creek Target. The confirmation of uranium-bearing floodplain deposits upstream of Wongway Creek has strengthened confidence in the paleochannel model. Crucial drill holes, including ORMR015A and ORMR017, have offered valuable insights into floodplain features and the identification of kaolinitic clay marker beds, crucial for unraveling the basin’s geological evolution.
Drill samples from ORMR015A showing the kaolonitic clay marker unit from 121-130 metres and floodplain silt from 130-137 metres.
ORMR015A intersected what seems to be a floodplain dominated by silt, with minor gravel and two elevated gamma anomalies indicating uranium at both the top and bottom of this unit. In ORMR017, there was a heightened gamma response at approximately 132 meters depth, aligning with the top of the floodplain identified in ORMR015A. This suggests that the paleochannel may be situated just meters away from the target. Additionally, the detection of a mustard-colored limonite-rich fluid in certain drilling locations suggests potential uranium sources.
The identification of paleochannels offers geologists precise targets for uranium exploration. By mapping geological characteristics and comprehending past river systems, exploration endeavors can be concentrated on regions with an increased probability of harboring uranium deposits.
The maiden drill program has further substantiated Orroroo as a potential emerging uranium district within the renowned Walloway Basin in South Australia. Norfolk is moving forward on the future planning and approvals for Orroroo with a focus on the uranium-bearing floodplains intersected near the Wongway Creek target.
In 2024, Norfolk will begin operations on exploration permit EL6814, which is adjacent to the north and south of EL6552. The initial activities on EL6814 will be planned based on the findings and analysis from the inaugural drilling program at EL6552.
The company remains optimistic about the potential of the Walloway Basin beyond EL6552 (Orroroo project), particularly in areas such as the northern region (Johnburgh Project) and the southern region (Black Rock Project), where significant portions have yet to undergo geophysical surveys or drilling operations.
Las Alteras Uranium Project
Through an exclusivity agreement with Green Shift Commodities (GCOM) Norfolk has rights to 22 claims totaling 60,396 hectares comprising the Las Alteras uranium project to the west and east of the 11.49M lbs (Reasonably Assured Resource) Cerro Solo uranium deposit.
Las Alteras is surrounded by UrAmerica’s Meseta Central deposit (19.1 Mlbs eU308), CNEA’s Cerre Solo deposit (11.49M lbs U308), and ISO Energy’s Laguna Salada deposit (10.1 Mlbs U308). The project is also close to two historical mines, Cerro Condor and Los Adobes.
Norfolk plans to complete a due diligence on the project and pursue completion of the acquisition of the property from Green Shift Commodities.
Roger River Project
The Roger River Project comprises two granted exploration licenses encompassing a total area of 261 square kilometres. Positioned 410 kilometres northwest of Hobart, Tasmania, the project is deemed prospective for gold and copper.
During 2023, Norfolk continued its exploration program to obtain a better understanding of the copper and gold mineralization to guide the next exploration phase and potential drilling. The exploration work included a soil sampling program. The soil program entailed the collection of new surface samples and the re-analyses of selected historical soil samples over the White Water and A2 prospects which were submitted for Cu analysis.
Fresh surface samples were gathered on a grid measuring 200 by 100 meters around A2, totaling 98 samples. This sampling covered an area of roughly 1.2 kilometers by 1.5 kilometers along the interpreted splay from the Roger River Fault. The findings reveal a persistent copper anomaly surrounding the A4 and A5 prospects, situated along the interpreted fault splay originating from the Roger River Fault.
The historical samples re-analyzed revealed a continuous copper anomaly around the A4 and A5 prospects located along the interpreted fault splay from the Roger River Fault.
Management Team
Ben Phillips – Executive Chairman
Ben Phillips brings over 15 years of experience in commercial negotiations across diverse industries, including oil and gas, resources, medical technology, software-as-a-service and defense. He guides departments spanning from R&D and exploration to production, commercialization, and sales. Previously, Phillips served as a non-executive director at Bronson Group (ASX:BGR) and later at Mandrake Resources (ASX:MAN). In his current role as a corporate executive at Ironside, he focuses on sourcing, structuring, funding and managing requirements for small-cap companies, both private and public. Phillips has been with Ironside Capital since its inception, previously serving at Merchant Corporate Finance.
Leo Pilapil – Non-Executive Technical Director
Leo Pilapil has over 30 years of experience as a geoscientist. Throughout his career, he has held director positions at numerous junior companies across Australia, Africa and Turkey. In these roles, he has been primarily responsible for technical project evaluations, project acquisitions, project management and business development. Pilapil's notable achievements include the discovery of the Harlequin Gold Deposit (1 Moz) under salt lake conditions in Norseman, Western Australia. Additionally, he has played a key role in the extension and discovery of several ore deposits in Australia, Africa and Turkey. Pilapil has served as a geological consultant for numerous companies across the globe, including Aditya Birla in Australia, Alacer Gold Corporation in Turkey, African Uranium in Namibia, and NIKKI Lao in Lao PDR.
Patrick Holywell – Non-Executive Director
Patrick Holywell possesses over 15 years of expertise in accounting, finance and corporate governance, having worked at Deloitte and Patersons (now Canaccord Genuity). He is a chartered accountant and a fellow of the Governance Institute of Australia. Over the past decade, Holywell has primarily focused on director and company secretarial roles within the resources and technology sectors. His recent engagements include positions at De Grey Mining, Si6 Metals, and Pentanet.
Rio Silver: Leveraging 25 Years of Mining Experience in Peru
Rio Silver (TSXV:RYO) focuses on the acquisition, exploration and development of precious metals deposits in South America. The company is currently advancing its 100 percent-owned Niñobamba silver-gold project in Peru. The The 3,933-hectare Niñobamba property is a drill-ready project located in the Department of Ayacucho about 330 kilometers southeast of Lima.
To date, Rio Silver and other historical operators have completed US$10 million in exploration expenditure on the Niñobamba property. The company has low overhead expenditure and strong alliances in Peru that are helping it achieve new initiatives for enhanced sustainability.
In 2016, Rio Silver consolidated its property by acquiring the surrounding 2,200 hectares of adjoining land from Newmont Mining and Southern Peru Copper. These included the Jorimina zone, which is located about 6.5 kilometers west of the Niñobamba and is believed to be part of the same high-sulfidation silver-gold system identified in the main Niñobamba zones.
Company Highlights
- Rio Silver owns six mineral concessions covering 4,100 hectares of wholly-owned land in a historic Peruvian mining district.
- The property was historically surrounded by big-name miners (Newmont, Southern Peru Copper) and is now wholly owned by Rio Silver.
- Experienced management team with more than two decades of mining experience in Peru.
- Extensive trenching completed at the Niñobamba zone.
- The management team holds a 29 percent stake in the company.
- US$10 million in exploration expenditure completed to date by Rio and historical operators.
- All the historical data has been collected from previous owners.
- Historical drilling on the Niñobamba property intersected 130 meters of 2.55 oz/t silver and 72.3 meters of 1.19 g/t gold.
- New gold zone identified including 56 meters at 98.9 g/t silver and 21.77 meters at 1.32 g/t gold, 102.46 g/t silver.
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March Quarter Activity Report
Highlights:
- Brightstar makes recommended takeover offer for Linden Gold Alliance Limited
- Successful completion of A$12 million share placement
- A highly positive Scoping Study was released for the Jasper Hills Gold Project (owned by Linden Gold) with compelling operational and financial outputs1,4:
- An initial mine production target of 142koz @ 1.84g/t Au over a four-year life of mine
- Pre-Tax NPV8 of approximately A$99 million and IRR of 736% (@ A$3,000/oz gold price)
- Payback of 9 months on all pre-production capital costs of $12 million
- Selkirk mining joint venture and gold pours successfully completed, with finalised net cashflow generated to Brightstar of $6,500,000 to be received this quarter
- Cork Tree Well diamond drilling results returns spectacular intercepts including:
- 27.6m @ 17.8 g/t Au (CTWMET003)
- 34.4m @ 7.94g/t Au (CTWMET004)
- High grade RC drilling intercepts were received from Menzies Gold Project at the Aspacia & Link Zone deposits
Brightstar to acquire Linden Gold Alliance Limited, $12 million share placement and Board Change1,2,3
- Brightstar Resources Limited to acquire Linden Gold Alliance Limited (Linden) via unanimously recommended off-market scrip takeover offer (Offer)
- Linden is a gold producer, developer and explorer with existing mineral resources of 350koz @ 2.1g/t Au near Brightstar’s existing processing infrastructure (on care & maintenance) in the Laverton district (Figure 1)
- Under the Offer, Linden securityholders are to receive 6.9 Brightstar shares for every 1 Linden share held and 6.9 Brightstar options for every 1 Linden option held, equating to an implied Offer price of 11.04 cents per share
- The Offer implies an undiluted equity value for Linden of approximately $23.7 million
- Linden’s Directors unanimously recommend Linden shareholders accept the Offer, in the absence of a superior proposal
- Linden Directors representing 13.2% and Linden’s major shareholders, including St Barbara Limited (St Barbara), representing approximately 67.3% of shareholders, have signed pre-bid agreements with Brightstar or have signed intention statements to accept the Offer in respect of all current Linden shares and Linden options they own and control, in each case in the absence of a superior proposal
- The Offer is subject to conditions including a minimum 90% acceptance condition by the Linden shareholders and Linden optionholders
- As part of the Offer, Brightstar announced the successful receipt of firm commitments for a capital raising of A$12.0 million at A$0.014 per share via a two-tranche placement (Placement)
- The Placement received strong cornerstone support from Brightstar and Linden’s major shareholders Collins Street Asset Management and St Barbara for a total $4.3 million
- Mining investment house Lion Selection Group (ASX:LSX) committed to $2 million in the Placement to become a Brightstar shareholder
- Linden Directors Andrew Rich and Ashley Fraser to be appointed as Executive Director and Non- Executive Director respectively of Brightstar at successful completion of the Offer
- Highly regarded natural resources industry professional Richard Crookes will join the Board of Directors as Independent Non-Executive Chairman subject to the successful completion of the Offer.
- The combination of Linden and Brightstar will create a gold producer and developer with a material resource base that supports the Company’s strategy of becoming a mid-tier gold producer
Figure 1: Linden Gold’s Second Fortune & Jasper Hill Gold Projects relative to Brightstar assets
Compelling Scoping Study for Jasper Hills Gold Project4
The Jasper Hills Gold Project (Jasper Hills) is wholly owned by Linden, which is the subject of a Board- recommended off-market takeover offer by Brightstar. Jasper Hills is located 50km SE of Brightstar’s processing infrastructure, and will, subject to final feasibility studies, permitting and approvals and final investment decision, support Brightstar’s ambition of becoming a meaningful WA gold producer.
Click here for the full ASX Release
This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Brightstar Resources Investor Kit
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