Brightstar Resources outlines an ambitious growth plan targeting over 200,000 ounces of gold production annually by 2029, driven by expansions at Laverton and Menzies hubs and accelerated development of the Sandstone project.
- Current production run rate of 20koz pa, aiming to double by mid-2025
- Definitive Feasibility Studies for Laverton and Menzies due 1H CY25
- Sandstone Pre-Feasibility Study targeted for 1H CY26 with first gold production by 2H CY28
- Aggressive 130,000m drilling program planned in 2025 to upgrade and expand resources
- Strong cash position and strategic acquisitions underpin growth strategy
Brightstar’s Growth Trajectory in Western Australia
Brightstar Resources Limited has presented a comprehensive investor update in May 2025, detailing its strategic roadmap to become a significant gold producer in Western Australia. Anchored by a robust 3.0 million ounce mineral resource base, the company is focused on scaling production from its existing Laverton and Menzies hubs while fast-tracking the development of the Sandstone gold project.
The company currently operates at a production run rate of approximately 20,000 ounces per annum, primarily from the Second Fortune and Lord Byron operations within the Laverton hub. Brightstar aims to double this output to around 40,000 ounces by mid-2025, driven by the ramp-up of the Fish underground mine, which is on track to deliver its first ore in June 2025.
Feasibility Studies and Project Development Milestones
Critical to Brightstar’s growth ambitions are the upcoming Definitive Feasibility Studies (DFS) for the Laverton and Menzies hubs, expected in the first half of calendar year 2025. These studies will assess the potential for expanding open pit mining operations, refurbishing processing infrastructure, and optimizing production schedules. Concurrently, the Sandstone project is progressing towards a Pre-Feasibility Study (PFS) slated for delivery in the first half of 2026, setting the stage for a potential first gold pour by the second half of 2028.
The Sandstone hub, with a substantial 1.5 million ounce resource, represents a district-scale opportunity. Brightstar is undertaking an extensive 80-kilometer drilling campaign in 2025, targeting resource upgrades and exploration of high-priority prospects such as Lords, Vanguard, and Montague. This aggressive exploration program, totaling over 130,000 meters across the group, underscores the company’s commitment to organically grow its resource base and underpin future production.
Financial Strength and Strategic Acquisitions
Brightstar’s financial position supports its expansion plans, with approximately A$7 million in cash and an undrawn working capital facility of around A$18 million as of March 2025. The company has also demonstrated disciplined capital deployment through accretive acquisitions, securing 2.4 million ounces of gold resources at an average cost of A$36 per ounce, well below recent market transaction multiples.
Market comparisons position Brightstar attractively within the junior gold producer landscape, trading at a significant discount to peer averages on an enterprise value per ounce basis. This valuation gap highlights the potential upside as the company advances its development projects and scales production.
Operational Expertise and Community Engagement
Brightstar benefits from a seasoned management team with deep operational and technical expertise, including in-house underground mining capabilities that de-risk project ramp-ups. The company also emphasizes strong community and stakeholder engagement, progressing Native Title agreements and ongoing rehabilitation efforts to maintain its social license to operate.
With a clear pathway to becoming a multi-mine producer and a targeted production profile exceeding 200,000 ounces annually by 2029, Brightstar is positioning itself as a compelling growth story in Western Australia’s gold sector.
Bottom Line?
Brightstar’s ambitious growth hinges on upcoming feasibility studies and successful execution of its multi-hub expansion strategy.
Questions in the middle?
- Will the Sandstone project meet its aspirational timeline for first gold production by 2H CY28?
- How will the results of the Laverton and Menzies DFS influence capital allocation and production targets?
- What impact will ongoing exploration drilling have on resource upgrades and mine life extensions?