Far East Capital analyst Warwick Grigor breaks down a compelling narrative of why Brightstar Resources ‘stands out from the pack.’
The company started its consolidation story in December 2022 with a merger with Kingwest Resources, allowing it to commence mining 30,000 tons of ore at 6 grams/ton from the Selkirk open pit mine at the Menzies gold project.
In 2024, Brightstar made a takeover offer of Linden Gold Alliance, a company that operates the underground Second Fortune gold mine, which currently produces 13,000 ounces.
ROM loader placing Second Fortune gold ore into road train in April 2024.
“It is always more complicated when a company is operating multiple mines and mills, which is what Brightstar is planning; more complicated but possible if you have good operational management. Share price performance is going to depend upon how completely the company delivers on its plans,” Warwick wrote.
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