Brightstar Resources is making significant progress on earthworks for its 1.5 million-tonne-per-year processing plant south of Laverton in Western Australia, just as its Lord Byron site completes mine design and prepares for open-pit mining activities to begin later this year.
Both locations are part of Brightstar’s wholly owned Goldfields project, which is expected to produce 75,000 ounces of gold per year beginning in July 2027, with a six-year mine life.
The Laverton facility also saw its first concrete pour for CIL tank footings ahead of schedule, which Brightstar described as a key “project kick-off milestone”.
Mobilization for site establishment is scheduled for the September quarter of 2026 at Lord Byron, and open-pit mining will build ore stockpiles prior to mill commissioning in the June quarter of 2027.
Second Fortune is also making good progress, with high-grade ore stored for processing next year. Brightstar stated that the ore is expected to produce a first-year output increase compared to the Goldfields definitive feasibility study 2.0, which did not contain Second Fortune.
Current run-of-mine stocks at Second Fortune are around 30,000 tonnes at 3 grams per tonne of gold, with Brightstar aiming for 50,000 tonnes at 3 grams per tonne, or around 5000 contained ounces, by the end of August.
According to Brightstar managing director Alex Rovira, the update demonstrated that the company was still on track to meet its development objectives.
“Construction activities at our Goldfields Project continue to progress on time and on budget, with the Project remaining on track to achieve first gold in June 2027,” Rovira stated.
“This progress underscores the strong execution capabilities of the Brightstar team and our EPC partner, GR Engineering.”
The SAG mill and CIL plant pads have had their bulk earthworks finished, and steel construction for the primary crushing area has begun.
Detailed engineering has attained 60% completion, including critical hazard and operability assessment milestones, and is on schedule to reach 90% completion by August.
According to Rovira, Brightstar’s early involvement with GR Engineering enabled the company to anticipate crucial building requirements.
“Central to maintaining this strong momentum has been the strategic pre-FID early works arrangements with GR Engineering, with this proactive partnership enabling Brightstar to secure a significant head start on ordering long lead-time items and project development – an approach that is now delivering dividends through de-risked schedule and budget performance,” he stated.
“This has positioned Brightstar well against a backdrop of increasing demand for gold processing plant EPC services industry-wide in Western Australia.”
Brightstar has also purchased deferred premium Australian-dollar gold put options for 60,000 ounces of production between July 2027 and March 2029.
The options have an exercise price of $5809 per ounce, or approximately $US4000 per ounce, with the $31 million deferred premium settlement financed by production cash flows.
“Additionally, we have further de-risked our planned production ramp-up period through the purchase of deferred-premium put options covering 60,000 ounces of production to protect early revenues and provide a floor price while maintaining full gold price exposure to the upside,” Rovira stated.
The business is also continuing exploration and optimisation work across the whole Goldfields portfolio, as well as studies for a potential 2.5-million-tonne-per-year throughput increase.
