Brightstar Resources

Successful Completion of A$12 Million Share Placement

Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) is pleased to report that it has received firm commitments for a placement of new fully paid ordinary shares in the Company (Shares) at A$0.014 per Share to raise A$12 million (before costs) (Placement).


Highlights:

  • Firm commitments received to raise A$12 million through a strongly supported two-tranche Placement
  • Placement completed to leading domestic and international institutional and sophisticated investors, including a significant contribution from existing shareholders of Brightstar and Linden
  • Post completion of the Placement, Brightstar to emerge with over $20 million in cash and no debt to fund mine life extension at the operating Second Fortune mine, fast-track development of the Jasper Hills, Menzies and Laverton Gold Projects
Along with existing cash, proceeds from the Selkirk mining operations and the Placement, Brightstar will emerge with over $20 million cash (no debt) which will underpin the next phase of activities at Brightstar’s Menzies and Laverton Gold Projects and, subject to successful completion of its proposed takeover of unlisted gold producer Linden Gold Alliance Limited (Linden), Linden’s Second Fortune and development- ready Jasper Hills project. Refer to Brightstar’s announcements of 25 March 2024 for more information regarding Brightstar’s proposed acquisition of Linden.

The Placement had strong cornerstone support including a strategic $2 million investment from St Barbara Ltd who is expected to emerge as Brightstar’s largest shareholder with a shareholding of approximately 13% post completion of the Placement and the Linden takeover. Brightstar’s existing largest institutional shareholder, Collins St Asset Management, subscribed for approximately $2.3 million in the Placement, while well-regarded mining investment house Lion Selection Group (ASX:LSX) participated for $2 million in the Placement.

The Placement will be completed in the following two tranches:

  • 298,676,401 Shares within the Company’s existing placement capacity pursuant to Listing Rule 7.1 and 237,037,885 Shares within the Company’s existing placement capacity pursuant to Listing Rule 7.1A, raising a total of $7.5 million; and
  • 321,428,571 Shares, subject to shareholder approval in accordance with Listing Rule 7.1, raising $4.5 million.

The Placement is not conditional on the success of the takeover bid for Linden.


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.

BTR:AU
Brightstar Resources

Brightstar Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Brightstar Resources

Brightstar Resources

Emerging gold producer and district-scale resource developer in Western Australia

Emerging gold producer and district-scale resource developer in Western Australia Keep Reading...
RIU Sydney Conference Presentation

RIU Sydney Conference Presentation

Brightstar Resources (BTR:AU) has announced RIU Sydney Conference PresentationDownload the PDF here. Keep Reading...
High grade results continue in Sandstone drilling

High grade results continue in Sandstone drilling

Brightstar Resources (BTR:AU) has announced High grade results continue in Sandstone drillingDownload the PDF here. Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Brightstar Resources (BTR:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Record Processing Campaign Delivers 7,900oz Au Production

Record Processing Campaign Delivers 7,900oz Au Production

Brightstar Resources (BTR:AU) has announced Record Processing Campaign Delivers 7,900oz Au ProductionDownload the PDF here. Keep Reading...
AQN: Drillforce Secures 3YR Supply Agreement with Brightstar

AQN: Drillforce Secures 3YR Supply Agreement with Brightstar

Brightstar Resources (BTR:AU) has announced AQN: Drillforce Secures 3YR Supply Agreement with BrightstarDownload the PDF here. Keep Reading...
Gold bar with stock charts in background; text reads: "Weekly Editor's Picks."

Editor's Picks: Gold, Silver Prices Take a Hit, Mining Stock M&A Heats Up

The gold price moved down this week, taking a turn toward the end of the period that took it below US$4,550 per ounce.Its sister metal silver followed a similar trend, although at one point it briefly approached the US$89 per ounce mark.Precious metals continue to react to the Iran war, which is... Keep Reading...
Q1 2026 Interim Financial Statements

Q1 2026 Interim Financial Statements

Sarama Resources (SRR:AU) has announced Q1 2026 Interim Financial StatementsDownload the PDF here. Keep Reading...
Qtly Activities Report - Q1 26 Mgmt's Discussion & Analysis

Qtly Activities Report - Q1 26 Mgmt's Discussion & Analysis

Sarama Resources (SRR:AU) has announced Qtly Activities Report - Q1 26 Mgmt's Discussion & AnalysisDownload the PDF here. Keep Reading...
Gold and silver coins.

Precious Metals News: Silver and Platinum Prices Decouple from Gold

Silver and platinum decoupled from gold this week, rallying on supply side challenges as the US-Iran War continues.With the price for energy metal copper hitting a fresh high this week, silver and platinum shook off their precious metals mantles and took a walk on the industrial side. Gold is... Keep Reading...
Canadian flag in foreground with a historical stone building and clock tower blurred in the background.

Canadian Mining Reforms Fuel Surge in New Investment

Since the start of 2025, the US under President Donald Trump has upended global trade flows, injecting fresh uncertainty into relations with allies and trading partners alike.Canada, despite being one of the US’ closest economic partners, has not escaped the fallout. Tariffs targeting key... Keep Reading...
Brightstar Resources

Brightstar Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News