CY25 Production Program Underway, First Gold Pour in March
| Stock | Brightstar Resources Ltd (BTR.ASX) |
|---|---|
| Release Time | 29 Jan 2025, 8:19 a.m. |
| Price Sensitive | Yes |
CY25 Production Program Underway, First Gold Pour in March
- Ore haulage commenced from Laverton Hub to Genesis Minerals' Laverton mill
- First gold pour scheduled for March 2025
- Existing ore stockpiles containing ~9koz of gold available for processing
Brightstar Resources has commenced the haulage of ore from its Second Fortune underground mine, historical stockpiles from the Lord Byron open pit, and the upcoming Fish underground project to Genesis Minerals' Laverton mill under an Ore Purchase Agreement. This marks a key milestone in Brightstar's accelerated CY2025 Laverton production strategy. The company expects sufficient ore to be delivered in the March quarter to allow for a first processing campaign and gold pour in March 2025. Brightstar remains debt and hedge free, providing full exposure to the record AUD gold price. The introduction of the Fish underground project will add high-grade ore to Brightstar's production profile and diversify the company's operations across the Laverton Hub. Contemporaneous with the gold production, Brightstar continues to advance the Definitive Feasibility Study on its wider Laverton-Menzies development, which includes the refurbishment of its 100% owned processing plant in Laverton. The company's geology team is also focused on a major drilling program at the Sandstone Gold Project to rapidly grow and improve the existing 1.5Moz mineral resource.
Brightstar expects to deliver and process up to 500,000 tonnes of ore from its Laverton Hub at Genesis Minerals' Laverton mill over the course of CY2025 and Q1 CY2026.