Panther Advances Laverton Gold Development Pathway

Key points

• Brightstar Resources to acquire Mikado Gold Project from Panther Metals for $350,000 cash
• Acquisition strategically located adjacent to Brightstar's Laverton operations
• Non-binding Heads of Agreement for potential mining and processing arrangement for Burtville East Gold Project

Full summary

Brightstar Resources Limited has announced the acquisition of the Mikado Gold Project from Panther Metals Ltd for $350,000 cash. The Mikado tenure is strategically located adjacent to Brightstar's Beta operations and developing Laverton infrastructure. The acquisition provides Brightstar with additional tenure around its operating footprint, potentially reducing haulage distances and associated operating costs. In conjunction with the sale, Panther and Brightstar have entered into a non-binding Heads of Agreement (HOA) to investigate a potential mining and processing arrangement for the Burtville East Gold Project. The proposed arrangement contemplates Brightstar funding and managing agreed development, mining, haulage, and processing activities, with net proceeds shared 50:50 following recovery of project costs.

Guidance

Brightstar targets first gold from its new Laverton processing plant in the June quarter 2027.

Outlook

The acquisition and potential mining and processing arrangement for Burtville East provide longer-term optionality for additional gold feed and maximize the value of Brightstar's new Laverton processing infrastructure.