Brightstar Resources

Primary ticker: ASX:BTR
Stage of development: Production
Primary minerals: Gold
Project to promote: Laverton, Sandstone and Menzies Gold Projects
Project location: Australia
Website: www.brightstarresources.com.au

Brightstar is an existing gold producer in the Leonora-Laverton District in Western Australia’s prolific Eastern Goldfields. Currently producing approximately 20,000ozpa via the Second Fortune underground mine, Brightstar has a low capex pathway to 100kozpa production from its ~3Moz JORC Mineral Resource Estimate and processing plant currently on care & maintenance in Laverton.

Cash: AUD 15M
Debt: NIL

Major shareholders:
St Barbara Ltd – 10%
Jack Yetiv (HNW investor) – 8%
Lion Selection Group – 8%
Collins Street Asset Management – 7%
Gold2000 – 4.9%
Management Ownership – 8%

Financials

Management Profile

Alex Rovira – Managing Director
Mr Rovira is a qualified geologist and an experienced investment banker having focused on the metals and mining sector since 2013. Mr Rovira has been the Managing Director of Brightstar since January 2023 and has experience in ASX equity capital markets activities, including capital raisings, IPOs and merger and acquisitions.

What is your rationale for taking part in 121 Mining Investment?

We have recently completed a number of material acquisitions in the Western Australaian goldfields and it is a good opportunity to market the company into a new equity market and expand the institutional and professional shareholder base of the company.

What recent news would you like to highlight to investors attending?

1 August – Sandstone Consolidation of Alto Metals and Gateway Mining, which outlined the recent transformational three-way M&A deal

17 September – Broad high-grade drilling intercepts at the Lord Byron Open Pit at Brightstar’s Laverton Gold Project

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Expand existing gold production at Second Fortune Gold Mine and get the Fish Gold Mine development ready for FID this year

6 Months:
Grow the current Mineral Resource base and release a Definitive Feasibility Study targeting up to 100kozpa production run rate

12 Months:
Make Final Investment Decision on the development of the Menzies and Laverton Gold Project. Expand the Mineral Resource to 4.0Moz Au via focused exploration

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Normal risks associated with operating an underground gold mine. By applying strict operational controls and measures to ensure efficient operations we can ameliorate these risks. Other risks include work force availability, commodity price movements, funding risk for the capex requirements of the growth projects

What do you think makes your company such a compelling investment?

We are an existing gold producer seeking to significantly increase the scale of our operations up to 100kozpa through a low capex approach, utilising the 3.0Moz Au JORC Mineral Resource and processing infrastructure currently on care & maintenance.

What are the top 3 key investor takeaways?

Existing gold producer, with a low capex pathway to 100kozpa production

Debt free, strong cash balance.

Strong executive team and Board with mining expertise in underground and open pit operations