• $193M equity raise and $120M debt facility completed
• Fully funded for Goldfields Project to first gold production
• Substantial capital allocated to advance Sandstone Project

Brightstar Resources Ltd (ASX: BTR) has announced the successful completion of a $313 million funding package, comprising a $193 million equity raise and a $120 million senior secured Nordic bond. This has delivered total available liquidity of $383 million, with $212 million in cash and $171 million in undrawn bond proceeds. The funding package provides 100% of the capital required to construct and commission the Goldfields Project through to first gold production, targeted for June 2027. The Goldfields Project is expected to deliver 75,000 ounces of gold per annum and generate $1 billion in free cash flow over six years. Importantly, the funding also allocates substantial capital to advance the Sandstone Gold Project through to Final Investment Decision, targeted for late 2027 or early 2028. This includes a significant budget for growth drilling at Sandstone, where Brightstar is targeting substantial resource expansion from the current 2.4 Moz Mineral Resource base. The flexible debt structure includes minimal financial covenants, no royalties or warrants, and preserves full gold price upside for shareholders. Brightstar's strong balance sheet and capital buffer positions the company favorably in the current challenging market conditions.

The Goldfields Project is expected to deliver 75,000 ounces of gold per annum and generate $1 billion in free cash flow over six years (at a gold price of A$6,000/oz).

Brightstar is targeting commencement of gold production at the Goldfields Project in June 2027, and is also advancing the Sandstone Gold Project towards a Final Investment Decision in late 2027 or early 2028, with a focus on significant resource growth through an extensive drilling program.