Brightstar Resources (ASX:BTR) completed its AU$193 million equity capital raising and its $120 million senior secured bond, securing financing arrangements for the Goldfields project in Western Australia, according to a Friday filing with the Australian bourse.

Funds are now available to start site development and construction at the project, subject to final approvals and the formal declaration of final investment decision, the filing said.

Proceeds will also support exploration, feasibility studies, and permitting activities at the Sandstone project, per the filing.

Shares rose 4% in morning trade on Friday.