Brightstar starts hauling golden WA ore towards production

Brightstar Resources is motoring down the road to production, as it starts hauling gold-bearing ore from its Laverton hub in Western Australia to the nearby Laverton mill as part of an ore sale agreement with renowned goldie Genesis Minerals.

Brightstar says it is transporting ore from its Laverton mining hub for initial processing at the mill. The first gold pour is due in March.

The company has existing stockpiles containing an estimated 9000 ounces of gold available for haulage.

Management originated an ore purchase agreement with Genesis, which allows for up to 500,000 tonnes of ore to be processed this year and in the first three months of 2026.

Ore is expected to be sourced from the run-of-mine from its operating Second Fortune underground mine, existing mined stockpiles from its Lord Byron open pit operation at Jasper Hills, along with ore anticipated to be mined from its Fish underground project that is in the development stage.

The Second Fortune mine contains a mineral resource of 165,000t at a stellar grade of 10.9 grams per tonne (g/t) gold for 58,000 ounces. Stockpiles at Lord Byron comprise about 200,000t going at 1g/t gold for 6000 ounces of the precious yellow metal.

Development of the Fish underground mine is well-placed to contribute ore for processing, with material expected to be accessed within six weeks of cutting the underground portal and developing the mine decline.

Fish has a JORC-compliant resource estimate of 225,000t at a solid 5.7g/t gold for 41,000 ounces.

The company released a scoping study in March last year revealing a plan to mine 188,000t of ore within the measured and indicated categories of the resource, at an expected 4.4g/t to produce 26,000 gold ounces over 13 months.

The commencement of haulage to Mt Morgans is a major milestone for Brightstar following months of mine development, approvals and commercial work streams. We are now well positioned to see a return on this time and capital invested, particularly at a time of record A$ gold prices.

Rovira said the introduction of a second underground mine at the Jasper Hills gold project will add additional high-grade ore into its production profile and diversify the company’s production across the Laverton hub.

Recent drilling at Second Fortune returned results from mineralised narrow veins containing high-grade gold from relatively shallow depths, such as 2.76 metres at 7.37g/t from 96.15m, including 0.33m going 52.3g/t gold from the same depth, a 0.42m hit at 24.8g/t from 63.27m and a 0.3m slice grading 39.8g/t gold from 57.2m.

The continued rise in the Australian dollar gold price has astounded many pundits, with many now predicting further rises throughout 2025.

The latest gold price of US$2761 (A$4420) per ounce is making gold production very profitable for the bulk of companies with a worthwhile resource in their portfolio.

Brightstar is the envy of many of its competitors with excellent gold grades at its underground projects, putting it well-placed to cash in on the gangbuster gold price available.

Being hedge-free, it will derive the full benefit from today’s high prices. The company is also in the envious position of having no debt.

Management believe the cash-flow it expects to generate from the ore purchase agreement will provide a significant platform for company growth. It also has an aggressive 55,000m extensional and infill drill program planned and is expecting for release an upcoming definitive feasibility study on its wider Laverton-Menzies hub development.

The definitive prefeasibility study will include the costs to refurbish the company’s Laverton processing plant.

With a booming gold price and an expanding portfolio of projects, Brightstar is looking to make hay while the sun shines by monetising some of its projects as it works to continue its company-making growth trajectory.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au