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Brightstar Resources (ASX: $BTR) ramps up mining rates at Second Fortune

  • Author: Stock Piper

Brightstar Resources' Mining Update at Second Fortune


Brightstar Resources Limited (ASX: $BTR) has reported excellent stope performance as mining rates are ramping up at Second Fortune. The current stoping and development production ranges from 7,000 to 9,000 t/month, with plans to reach the 12,000 - 15,000 t/month mining rate by the September quarter 2024. The recommencement of ore haulage activities at Second Fortune is a significant development for the company.

Executive Commentary on Second Fortune Operations


The Managing Director of Brightstar Resources, Alex Rovira, expressed excitement about the recommencement of ore haulage activities at Second Fortune. He highlighted the team's focus on safe production and the collaborative efforts with Linden geologists to design a surface and underground drill program. Rovira emphasized the commitment to unlocking the inherent value in the Linden assets and advancing the group's assets towards development and monetization within the Eastern Goldfields.

Summary of ASX Announcement


Brightstar Resources is making significant progress at Second Fortune, with plans to achieve a steady state production rate of 12,000 - 15,000 t/month by the September quarter 2024. The company is focused on safe production and has engaged in resource definition and near-mine exploration programs. The high-grade nature of the Second Fortune Main Lode vein is encouraging, and the company is committed to improving mine grades, reducing costs, and accelerating stoping panels. Brightstar's strategic initiatives include new drill programs, building mineral resources, and future exploratory deep drilling to delineate ore horizons at depth for future resource definition drilling programs.

BRIGHTSTAR RESOURCES LIMITED
BTR | ASX | Materials
0.0180.001(+5.88%)
At close 05/07 (AEDT)
Market cap
$77.7M
Volume
6,013,241
DY Yield
0
PE Ratio
0
52 Week Range
0.01 - 0.02
1YR Return
350%

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