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Highlights
- Brightstar Resources (BTR) initiates operations at Fish underground mine.
- Target set for 15kt of high-grade ore per month to bolster 2025 production.
- First ore production anticipated by June 2025.
Brightstar Resources (ASX:BTR) has announced the successful initiation of operations at its Fish underground mine, following the on-time and budget-friendly completion of the Bonito Portal blasting. This significant development is a step forward in the company's strategy to establish a multi-mine gold production framework.
As part of its production and development strategy, Brightstar is gearing up for its first ore production, expected in the June 2025 quarter. The Fish mine is set to become a second source of high-grade underground ore, contributing significantly to the company's operations at the Laverton Hub. With an ambitious target of 15,000 tonnes per month from the Fish site, the produced ore will be combined with outputs from the Second Fortune mine. This strategy is designed to enhance the company's production capabilities and financial performance in the calendar year 2025.
The advancement of site infrastructure is also well underway. The construction of a new camp and the installation of critical infrastructure are progressing smoothly, with the mining fleet now mobilized and essential ground support systems in place. These developments are crucial for the commencement of mining operations and ensure the project remains on track.
In addition to operational advancements, Brightstar has secured an Ore Purchase Agreement with Genesis. This agreement facilitates the supply of up to 500,000 tonnes of ore through the end of 2025 and the first quarter of 2026, further supporting the company’s production goals.
Alex Rovira, Managing Director of Brightstar, expressed optimism about the project's progress, highlighting the successful blasting of the Bonito Portal as a pivotal moment for the company. “With ongoing infrastructure development and the scheduled production of the first ore from Fish, we are gaining operational momentum at an ideal time," said Rovira. He also emphasized the strategic significance of blending ore from Fish and Second Fortune to strengthen the company’s output and financial outlook.
Looking ahead, Brightstar is not only focusing on immediate mine development but also on broader growth opportunities. The company is nearing the completion of a definitive feasibility study and continues its exploration efforts with two reverse circulation (RC) rigs actively drilling in the field.
As Brightstar moves closer to achieving its first gold production from the Fish mine, the company is well-positioned to enhance its standing as a robust multi-mine gold producer, promising exciting updates for its shareholders in the upcoming months.
