Brightstar Resources (ASX:BTR) Commences Fish Underground Mine Operations
Mine Operations Begin on Schedule
Brightstar Resources (ASX:BTR) has successfully commenced operations at its Fish underground mine, completing the Bonito Portal blasting on time and under budget. This milestone marks the company’s progression towards multi-mine gold production.
Production and Development Plans
The first ore production is scheduled for the June 2025 quarter, adding a second high-grade underground ore source to Brightstar’s Laverton Hub. Brightstar targets 15kt per month of high-grade ore from Fish, which will blend with ore from Second Fortune to support CY25 production and cashflows.
Infrastructure and Site Progress
Site establishment is advancing with camp construction and key infrastructure installations on track. The mining fleet has been mobilised and commissioned, with essential ground support established ahead of development commencement.
Ore Purchase Agreement
Ore from Fish will be supplied under Brightstar’s Ore Purchase Agreement with Genesis, allowing up to 500,000 tonnes of ore through CY25 and Q1 CY26.
Executive Comments
Managing Director Alex Rovira stated, “The successful firing of the Bonito Portal at our newest underground mine at Fish, on schedule and under budget, is a key moment as we advance toward becoming a multi-mine gold producer. With infrastructure installation ongoing concurrently with mine development and first ore from Fish on track for June, we’re building operational momentum in the Laverton Hub at an opportune time with record gold prices. Fish is targeted to deliver 15kt per month of high-grade underground ore, which when blended with Second Fortune, will underpin Brightstar’s CY25 production and cashflows. Brightstar now has two operational underground mines in Laverton, a definitive feasibility study nearing completion and two RC rigs in the field for exploration and resource growth. We look forward to updating shareholders as the Fish mine moves towards first gold production this quarter.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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