Laverton Mines Deliver 7,002oz Gold, Up 91% Quarter-on-Quarter for Brightstar
Brightstar Resources has reported a remarkable 91% increase in gold production at its Laverton underground mines for the September quarter, setting a new company record. The ramp-up at the Fish mine and ongoing exploration efforts signal strong growth potential.
- 91% quarter-on-quarter gold production growth at Laverton mines
- September quarter production hits 7,002 ounces
- Fish mine achieves first full month of commercial stoping
- Targeting all-in sustaining costs at lower end of A$3,800–4,000/oz range
- Active exploration drilling supports potential mine life extensions
Record Production Growth at Laverton
Brightstar Resources Limited (ASX – BTR) has delivered a standout performance in the September quarter, with gold production from its Second Fortune and Fish underground mines soaring by 91% compared to the previous quarter. The combined output reached a record 7,002 ounces, underscoring the company’s operational momentum within its Laverton Hub in Western Australia.
The Fish mine, which only commenced stoping activities in late August, contributed significantly to this surge, marking its first full month of commercial production in September. The mine alone produced 3,556 ounces from 37,000 tonnes at a grade of 3.0 grams per tonne, while Second Fortune delivered 3,446 ounces from 32,000 tonnes at 3.4 grams per tonne.
Operational Efficiency and Cost Management
Brightstar’s Managing Director, Alex Rovira, highlighted the importance of operational efficiencies as the company approaches a steady-state production profile. The introduction of two rebuilt underground loaders at Second Fortune is expected to further boost productivity. Brightstar is targeting all-in sustaining costs (AISC) at the lower end of its previously guided range of A$3,800 to A$4,000 per ounce, a critical factor for profitability given the current high Australian dollar gold price exceeding A$6,200 per ounce.
The company’s ore is processed at the Laverton Mill operated by Genesis Minerals Ltd under an Ore Purchase Agreement, with the next processing campaign scheduled for early November expected to focus solely on high-grade Laverton underground ore.
Exploration and Growth Prospects
Brightstar continues to advance its exploration programs with multiple drilling rigs active across its portfolio. At the Sandstone Gold Project, three rigs are targeting resource infill and extensions, while a rig is mobilizing to the Lord Byron deposit following a notable intercept of 32 meters at 7.16 grams per tonne. Additionally, underground diamond drilling at the Fish mine aims to extend mine life and explore growth opportunities beyond the current plan.
The company’s Definitive Feasibility Study (DFS) for the Menzies-Laverton Gold Project projects an average production of approximately 70,000 ounces per annum over five years, excluding potential upside from mine life extensions at Second Fortune and Fish. Brightstar is also progressing debt financing and permitting efforts to support this broader development.
Looking Ahead
Brightstar plans to release its September Quarterly Report later this month, which will provide detailed operational and financial metrics, including finalized all-in sustaining costs. The company’s strong production ramp-up, combined with ongoing exploration success and strategic development initiatives, positions it well for growth as a mid-tier gold producer in Western Australia.
Bottom Line?
Brightstar’s record production and active exploration set the stage for a pivotal growth phase, with cost control and financing developments to watch closely.
Questions in the middle?
- Will Brightstar achieve its targeted all-in sustaining costs at the lower end of guidance?
- How will ongoing exploration results impact mine life and production forecasts?
- What progress will be made on debt financing and permitting for the Menzies-Laverton expansion?