Join our daily newsletter At The Bell to receive exclusive market insights
- Emerging WA gold company Brightstar Resources (BTR) has estimated the cost of refurbishing its namesake processing plant at $5.5 million
- The plant is located within the company’s Brightstar Project, near Laverton in the northern Goldfields in Western Australia
- The mill is currently on care and maintenance while Brightstar re-establishes its gold mining operations
- According to consultants at Como Engineers, the refurbishment will allow the plant to produce up to 650,000 tonnes per annum
- On the market, Brightstar is down 8.57 per cent and is trading at 3.2 cents per share
To refurbish the Brightstar Processing Plant will cost Brightstar Resources (BTR) $5.5 million.
The plant is located within the company’s Brightstar Project, near Laverton in the northern Goldfields in Western Australia.
The mill is currently on care and maintenance while Brightstar completes resource definition drilling and mine design work to re-establish its gold mining operations.
According to consultants at Como Engineers, the refurbishment will allow the plant to produce up to 650,000 tonnes per annum. The plant is located within 60 kilometres of its three major deposits — Alpha, Beta and Cork Tree Well.
The Como report states the costs of the refurbishment of the mill, including all
modifications and upgrades, is around $3.6 million. In addition, Como has estimated $1.9 million in owner’s cost.
“We are delighted with the outcomes of Como’s report into the Brightstar Mill’s refurbishment and upgrade, which confirmed our expectations of a low capital-cost solution that will underpin plans for us to fast-track the Brightstar Project into production,” Managing Director Bill Hobba said.
“At the upgraded oxide processing capacity of approximately 650,000 tonnes a year, our Mill will be almost twice as large as originally envisaged,” he added.
On the market, Brightstar is down 8.57 per cent and is trading at 3.2 cents per share at 11:42 am AEST.
