Brightstar Resources Says Western Australia Project on Track for Final Investment Decision in May, Shares Up 6%

MT Newswires Live05-21 09:09

Brightstar Resources (ASX:BTR) said a final investment decision for its Goldfields project in Western Australia is targeted during May, according to a Thursday Australian bourse filing.

The decision will coincide with the receipt of project approvals and execution of the Laverton Plant engineering, procurement, and construction (EPC) contract with GR Engineering Services, the filing added.

The company said key outstanding approvals from the Department of Mines, Petroleum and Exploration, and the Department of Water and Environmental Regulation are expected to be received in May, with the project remaining on schedule for first gold in the June 2027 quarter and production of about 75,000 ounces per year for six years.

OCTA Group was selected as the preferred supplier for power with a combined LNG power station and LNG supply following a competitive bid process, with long-lead power station equipment and LNG supply secured, the filing added.

An exploration reverse circulation drill rig is completing infill and extensional drilling at the Lord Byron deposit for a potential re-optimization of the Lord Byron mine plan.

The company's shares rose 6% in recent Thursday trade.

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