Brightstar Resources (ASX:BTR) has received an $11.5 million revolving stockpile finance facility with trading services provider Ocean Partners Australia to support production growth at its Laverton Hub in Western Australia, according to a Tuesday filing with the Australian bourse.
The facility, structured as an advance payment agreement, allows the company to draw funds for production and working capital needs, the filing said.
The financing arrangement is aligned with the company's ore purchase agreement with Genesis Minerals' (ASX:GMD), which covers the sale and processing of up to 500,000 tonnes of ore from Brightstar's Laverton Hub, the filing said.
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