Brightstar Resources Advances Goldfields Project Construction, Purchases Gold Price Protection

MT Newswires Live

Jul 02

Brightstar Resources (ASX:BTR) said construction activities at its Goldfields Project in Western Australia are progressing with bulk earthworks and site establishment underway, and the first concrete pour for the carbon-in-leach (CIL) tank foundations was completed ahead of schedule, according to a Thursday Australian bourse filing.

The company said final mine designs for Lord Byron were completed, and site preparation plans are being finalized ahead of mobilization for site establishment in the September quarter.

High-grade ore mining continues at the Second Fortune underground mine, with stockpiles growing for processing next year, the filing added.

Brightstar said it has executed a gold price protection strategy by purchasing put options covering 60,000 ounces of gold production during the first 24 months of production from fiscal year 2027 onwards, it added.

The company's shares rose 1% in recent Thursday trade.

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