Brightstar Resources (ASX:BTR) said it consolidated the Sandstone exploration ground in Western Australia in part via the acquisition of the Montague East gold project from Gateway Mining in the December 2024 quarter, according to a Friday Australian bourse filing.
This resulted in its resource base increasing to over 3 million ounces of gold at a grade of 1.5 grams per tonne of gold on granted mining leases, the filing said.
It also began ore haulage from its Laverton hub to Genesis Minerals' (ASX:GMD) Laverton mill under an ore purchase agreement to deliver, sell, and process up to 500,000 tonnes of ore sourced from the hub. The first gold pour is targeted for March, the filing said.
The firm added that it is in ongoing talks with Ocean Partners USA for a $11.5 million stockpile finance facility to fund production expansion and general working capital at the hub.
Company shares rose 5% in recent trade.
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