Brightstar Resources (BTR) investor relations material

Executive summary

• Transitioned from explorer to a fully funded gold developer, advancing the Goldfields and Sandstone Hubs in Western Australia.

• Achieved key milestones: updated Goldfields DFS, Final Investment Decision, major equity and debt funding, and start of Laverton plant construction.

• Completed strategic acquisition of Aurumin, consolidating Sandstone district and boosting total Mineral Resource to 4.5Moz Au.

• Maintained a strong safety record with no Lost Time Injuries over 2,098 days.

Financial highlights

• Revenue increased to $64.1 million (FY25: $33.5 million), driven by gold sales under the Ore Purchase Agreement.

• Cash gross margin of $18.6 million, but reported a net loss after tax of $76.9 million (FY25: $46.1 million loss).

• Cash and cash equivalents at year-end: $122.0 million; restricted cash: $160.9 million.

• Raised $242.5 million in equity and completed a US$120 million senior secured bond issue.

• Operating cash outflow: $33.9 million; investing cash outflow: $57.8 million; financing cash inflow: $202.0 million.

Outlook and guidance

• FY27 to be transformational with Laverton plant construction targeting first gold in June 2027.

• Open pit mining at Lord Byron and recommencement of Fish underground mining scheduled for late CY26 and early CY27.

• Sandstone PFS, maiden Ore Reserve, and Mineral Resource update on track for December 2026, supporting further growth.