Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
The real breakthrough in U.S.–China trade talks is...
Dem senator says ‘no doubt’ Biden declined cognitively...
Trump makes historic UAE visit as first US...
GOP reps, advocacy group to target competitive House...
Biden’s pandemic playbook failed. Trump just offered a...
WATCH: RFK Jr Senate hearing disrupted by screaming...
Gabbard moves presidential daily intelligence brief staff from...
Republicans struggle with Trump’s mixed signals on ‘big,...
Trump warns Iran faces ‘violence like people haven’t...
SEN JOHN KENNEDY: Why SCOTUS should seize opportunity...
The real breakthrough in U.S.–China trade talks is...
Dem senator says ‘no doubt’ Biden declined cognitively...
Trump makes historic UAE visit as first US...
GOP reps, advocacy group to target competitive House...
Biden’s pandemic playbook failed. Trump just offered a...
WATCH: RFK Jr Senate hearing disrupted by screaming...
Gabbard moves presidential daily intelligence brief staff from...
Republicans struggle with Trump’s mixed signals on ‘big,...
Trump warns Iran faces ‘violence like people haven’t...
SEN JOHN KENNEDY: Why SCOTUS should seize opportunity...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Brightstar Signs Major Drill for Equity Agreement with Topdrill

by admin September 13, 2024
September 13, 2024
Brightstar Signs Major Drill for Equity Agreement with Topdrill

Brightstar Resources Ltd (ASX: BTR) (Brightstar) is pleased to announce it has executed a significant drill-for-equity agreement with Topdrill Pty Ltd (Topdrill) which complements the existing arrangement and underpins the strong working relationship between Brightstar and Topdrill.

HIGHLIGHTS

Brightstar and Topdrill have executed a drill-for-equity agreement worth $4 million, whereby up to 50% of future drilling services invoiced by Topdrill can be paid in Brightstar ordinary sharesThe agreement with Topdrill cornerstones Brightstar’s multi-drill rig exploration program to aggressively advance the consolidated Sandstone Project post the completion of the transactions with Alto Metals Ltd and Gateway Mining Ltd1This $4 million drill-for-equity arrangement is in addition to an existing $1million agreement with Topdrill and further enhances Brightstar’s financial capacity to deliver on its multi hub exploration and development strategyAt Brightstar’s election, equity issued via the arrangement is to be voluntarily escrowed for six months and will be issued at the 20-Day VWAP on the invoice date

Brightstar’s Managing Director, Alex Rovira, commented

“We are pleased to expand materially upon the strong relationship with Topdrill and the existing drill-for-equity agreement, which aligns with our strategic ambition of partnering with tier 1 industry partners as we seek to genuinely build a WA-focused gold exploration, development and production business in a rising gold price environment.

The significant investment offers a cost-effective approach to enhance our aggressive exploration plans across Brightstar’s growing gold project portfolio and demonstrates Topdrill’s confidence in Brightstar’s team, Brightstar’s assets and development plan of organically growing gold production to become a material, multi-asset producer in Western Australia.

It is fantastic to see Topdrill’s commitment to not only Brightstar, but a number of emerging ASX-listed WA gold exploration companies with promising projects. This funding assistance, against the backdrop of continuing challenging equity capital markets, to effectively enable companies to drill more holes and discover more gold, is great to see and has a meaningful benefit to the junior exploration sector. Brightstar applauds Tim Topham and the team for this approach to working with the junior resources sector to enable more exploration and potential discoveries in WA.

Brightstar is currently completing a +30,000m RC and DD drilling program across the Company’s Menzies and Laverton asset base, with the drilling expected to complete in September. Results from these programs, both infill and extensional in nature, will be used in future Mineral Resource Estimate upgrades and will feed into Brightstar’s definitive feasibility study underway.

Subject to the successful completion of the Gateway Mining Ltd and Alto Metals Ltd transactions, expected for completion in September and November respectively, Brightstar anticipates mobilising a drill rig for infill and extensional drilling programs across the Gum Creek and Sandstone properties to advance the projects meaningfully towards mining studies and ultimate commercialisation of the significant mineral resource endowment.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Increased Lion Participation in Brightstar Placement
next post
MLS Continues to Advance and Expand its Flagship Lac Carheil Graphite Project Towards PFS

You may also like

Top 5 Canadian Lithium Stocks of 2025

March 27, 2025

Cyprium and Glencore Announce Commercial Strategic Partnership

July 26, 2024

Black Mountain Drilling Results: First Significant Lithium Intersections...

October 10, 2024

WESTERN COPPER AND GOLD WELCOMES FEDERAL FUNDING FOR...

September 23, 2024

Dynasty Gold Announces 2024 Annual General Meeting Results...

October 11, 2024

7 Biggest Lithium-mining Companies in 2024

July 22, 2024

Helium Evolution

August 27, 2024

Top 5 Canadian Mining Stocks This Week: Omineca...

December 21, 2024

Awalé Included in 2025 TSX Venture 50 List...

February 19, 2025

Troy Minerals Restarts Fieldwork at Tsagaan Zalaa Silica...

October 16, 2024

Top 5 Canadian Lithium Stocks of 2025

March 27, 2025

Cyprium and Glencore Announce Commercial Strategic Partnership

July 26, 2024

Black Mountain Drilling Results: First Significant Lithium Intersections...

October 10, 2024

WESTERN COPPER AND GOLD WELCOMES FEDERAL FUNDING FOR...

September 23, 2024

Dynasty Gold Announces 2024 Annual General Meeting Results...

October 11, 2024

7 Biggest Lithium-mining Companies in 2024

July 22, 2024

Helium Evolution

August 27, 2024

Top 5 Canadian Mining Stocks This Week: Omineca...

December 21, 2024

Awalé Included in 2025 TSX Venture 50 List...

February 19, 2025

Troy Minerals Restarts Fieldwork at Tsagaan Zalaa Silica...

October 16, 2024

Recent Posts

  • WATCH: RFK Jr Senate hearing disrupted by screaming protesters: ‘RFK kills people with hate’
  • Gabbard moves presidential daily intelligence brief staff from CIA to ODNI
  • Republicans struggle with Trump’s mixed signals on ‘big, beautiful bill’
  • Trump warns Iran faces ‘violence like people haven’t seen before’ if nuclear deal fails
  • SEN JOHN KENNEDY: Why SCOTUS should seize opportunity to eliminate universal injunctions

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (724)
    • Investing (2,103)
    • Politics (2,601)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.