Brightstar Resources Limited (ASX: BTR) has successfully completed a capital raising, securing AU$5 million (pre-costs) through a Placement of approximately 455 million shares at AU$0.011 per share. This garnered firm commitments from sophisticated investors within the company's placement capacity. Notably, Collins St Asset Management Pty Ltd and a US family office committed AU$3.5 million, acting as key investors.
The funds, combined with anticipated cash flow from Selkirk JV mining and gold production in early 2024, position Brightstar for accelerated exploration and the completion of the Pre-Feasibility Study for the Menzies & Laverton Gold Projects mine restart. This strategic Placement also allows the acquisition of mine site equipment at a significant discount, generating substantial savings. The allocated funds will further support exploration activities and key initiatives, offering value catalysts throughout 2024, including cash flow from Selkirk gold production and the completion of the Pre-Feasibility Study for mining restart.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
