Brightstar Resources has launched a $5 million Share Purchase Plan offering eligible shareholders discounted shares to fund key mining projects. The offer opens on 10 February and closes on 27 February 2026.
- Share Purchase Plan (SPP) aims to raise approximately A$5 million
- Shares offered at A$0.50 each, a 20.6% discount to last traded price
- Eligible shareholders in Australia and New Zealand can invest between A$2,000 and A$30,000
- Funds to support Goldfields Hub Project development and Sandstone exploration
- Offer is non-underwritten with potential for scale back and oversubscriptions
Brightstar Resources Launches Share Purchase Plan
Brightstar Resources Limited (ASX – BTR) has officially opened its Share Purchase Plan (SPP), targeting to raise up to A$5 million before costs. The offer, which commenced on 10 February 2026, invites eligible shareholders in Australia and New Zealand to purchase new fully paid ordinary shares at an issue price of A$0.50 per share. This price represents a significant 20.6% discount to the last traded price of A$0.63 recorded on 28 January 2026.
The SPP provides an opportunity for retail investors to participate on the same terms as the recent institutional placement announced earlier in February. Shareholders can apply for parcels ranging from A$2,000 up to a maximum of A$30,000 worth of shares, with no brokerage or transaction fees applied.
Funding Strategic Growth Initiatives
The capital raised through the SPP, alongside the institutional placement, is earmarked to fund several key initiatives. These include the equity component for the development and construction of the Goldfields Hub Project, notably the 1.5 million tonnes per annum carbon-in-leach (CIL) processing plant in Laverton. Additionally, funds will support pre-strip mining costs, general and administrative expenses, working capital for the Goldfields Hub, and exploration and study costs for the Sandstone Project, aiming to bring it to a final investment decision.
Brightstar’s board emphasises that the SPP is a non-underwritten offer, meaning the amount raised will depend entirely on shareholder participation. The company reserves the right to scale back applications if demand exceeds the targeted raise and may accept oversubscriptions subject to regulatory compliance.
Participation Details and Timetable
Eligible shareholders are those registered as holders of fully paid ordinary shares at 5 – 00pm AWST on 30 January 2026 with registered addresses in Australia or New Zealand. The offer closes at 5 – 00pm AWST on 27 February 2026, with new shares expected to be issued on 6 March and commence trading on the ASX from 9 March 2026.
Applications can be made online via the dedicated platform, with payment options including BPAY® for Australian shareholders and electronic funds transfer arrangements for New Zealand shareholders. The company has provided detailed instructions and terms in the SPP Offer Booklet, urging shareholders to review these carefully and seek independent financial advice if uncertain.
Market and Investor Implications
Brightstar’s decision to offer shares at a discount reflects a strategic move to incentivise shareholder participation and strengthen its capital base ahead of significant project milestones. While the discounted price offers an attractive entry point, the company cautions that share prices may fluctuate between the offer and issue dates, underscoring the speculative nature of the investment.
The SPP also allows retail shareholders to avoid brokerage fees typically associated with placements, potentially broadening the shareholder base and enhancing liquidity. However, the possibility of scale backs means some investors may receive fewer shares than applied for, depending on overall demand.
Bottom Line?
Brightstar’s SPP sets the stage for funding critical growth projects, but investor appetite and market conditions will ultimately shape its success.
Questions in the middle?
- Will shareholder demand exceed the A$5 million target, triggering scale backs or oversubscriptions?
- How will the share price react post-SPP issuance and trading commencement?
- What progress updates can investors expect on the Goldfields Hub and Sandstone projects following this capital raise?