- Brightstar partnering with Aquirian for drill and blast services for open pit operations, Aquirian to supply all drilling and energetics services
- Scope of agreement limited to Goldfields Hub for up to five years.
- Initial three-year agreement executed with Aquirian subsidiary Drillforce.
Brightstar Resources (ASX:BTR) is bringing in specialist equipment and expertise to ramp up its Goldfields Hub project, executing a strategic framework agreement with Aquirian (ASX:AQN) for the supply of all drilling and energetics services for open pit mining at the Goldfields Hub for up to five years.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Separately, it has signed an initial three-year agreement for the supply of all drill and blast services with Aquirian subsidiary Drillforce WA for the Lord Byron open pit mine, targeted to commence operations in the second half of the year.
Brightstar’s MD, Alex Rovira, said Drillforce’s patented technology underpins a value proposition for the company, achieving a balance between fragmentation and ore preservation, which is now expected to minimise mining dilution and optimise revenue, costs, and ore recovery.
“We are excited to be partnering with Aquirian for our open pit drill and blast services for the Goldfields Hub,” Mr Rovira told Brightstar shareholders today.
“Aquirian’s vertically integrated business and patented technology provides a material value proposition for Brightstar, with a strong operational focus on ore preservation during the drill and blast sequence, which is anticipated to deliver material benefits to Brightstar’s open pit mining operations.
“Importantly, Aquirian’s emphasis on precision, data-driven execution and safety performance is expected to support improved blast performance, optimise material movement and contribute to disciplined cost control, which are key drivers of sustainable production and margin performance to maximise value across our operations.
“In addition to maximising the performance of our already-defined open pit developments, Brightstar continues to assess opportunities for possible increases to the size of the Lord Byron open pit mine, compared to what was illustrated in the definitive feasibility study, representing upside to the currently defined mine plan.”
Brightstar is advancing the Goldfields Hub into near-term production, with a January updated feasibility study outlining the production of 75K-plus ounces per annum for six years, which delivered impressive financial metrics such as $1B in LOM cashflows, a $606M NPV and 74% internal rate of return.
Looking beyond this current calendar year, the WA company is targeting the commencement of gold production in the June quarter, CY27.
BTR is steady at 40.8¢. Mkt cap $447.3M.
Join the discussion: See what HotCopper users are saying about Brightstar Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.