Brightstar Initiates Second Fortune Processing in Pursuit of Laverton Gold Cash Flow

March 09, 2025 11:00 AM AEDT | By Team Kalkine Media

Brightstar Initiates Second Fortune Processing in Pursuit of Laverton Gold Cash Flow

Ore Processing and Future Expectations

The company has delivered its first parcel of 60,000 tonnes at a grade of 2 grams per tonne from the Second Fortune Mine. The processing of stockpiles from the Lord Byron open pit is underway at the Laverton Mill, with expectations for a gold pour later in the week.

Under an ore purchase agreement, haulage operations to Genesis Minerals (ASX:GMD) site continue. This arrangement allows Brightstar to sell up to 500,000 tonnes running through to 2025 and into the first quarter of the subsequent year.

Production and Development Strategy

Managing Director Alex Rovira emphasizes this as a significant milestone that aligns with Brightstar's transition into an emerging ASX gold producer. The company aims to ramp up operations with its Second Fortune Mine, soon to be followed by phase two with the Fish mine, which is scheduled to begin production in April 2025.

Besides active production, Brightstar continues to make strides in its exploration and development strategy, pushing forward with a definitive feasibility study expected by June quarter. This study focuses on restarting operations at the Menzies and Laverton sites while simultaneously advancing its extensional and infill drilling programs at the Sandstone Gold Project and the Cork Tree Well region.

Market Position and Strategic Goals

Kristie Batten from Stockhead draws parallels to Northern Star's asset accumulation strategy, underlining Brightstar's management overhaul. As one of the largest holders of resources in the Eastern Goldfields outside a mid-tier producer, Brightstar positions itself favorably in the soaring gold market.

Amidst rising gold prices and expanding margins, Brightstar’s proactive approach to transitioning its projects into active operations highlights its eagerness to capitalize on market dynamics. Moreover, this strategic positioning may create merger and acquisition opportunities within the bustling WA gold sector.

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