Brightstar Resources (BTR) Q4 2026 TU earnings summary

Executive summary

• Final Investment Decision approved for the 100% owned Goldfields Project, targeting major near-term production growth with all key regulatory approvals secured.

• Construction of the 1.5Mtpa Laverton Processing Plant underway, with gold production targeted for June 2027 at ~75koz p.a. over an initial six-year mine life.

• Strategic agreements executed for mining services and power supply, including a Power Purchase Agreement and LNG Supply Agreement for the Laverton mill.

• Successful completion of the Ore Purchase Agreement with Genesis Minerals, enabling operational readiness and repayment of working capital facility.

Financial highlights

• Ended the quarter with $122 million in cash and $161 million in undrawn net bond proceeds, totaling $283 million in liquidity.

• Gross sales proceeds of $138 million from ~24koz Au processed under the Genesis OPA since March 2025.

• Quarterly expenditures: $18.3M on Laverton Mill construction, $8.7M at Second Fortune, $11.7M on exploration and studies, $4.1M corporate expenses.

• Fully repaid the revolving stockpile finance facility with Ocean Partners (US$11.5M).

Outlook and guidance

• Goldfields Project construction progressing on schedule, with first gold production expected in June 2027.

• Sandstone Gold Project pre-feasibility study on track for completion in December 2026, with maiden Ore Reserve declaration planned.

• Second Fortune mining to conclude in September quarter, transitioning to care and maintenance; Fish mine to restart underground operations in 1H CY27.