{"id":9495,"date":"2024-09-13T01:49:49","date_gmt":"2024-09-13T01:49:49","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/09\/13\/brightstar-signs-major-drill-for-equity-agreement-with-topdrill\/"},"modified":"2024-09-13T01:49:49","modified_gmt":"2024-09-13T01:49:49","slug":"brightstar-signs-major-drill-for-equity-agreement-with-topdrill","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/09\/13\/brightstar-signs-major-drill-for-equity-agreement-with-topdrill\/","title":{"rendered":"Brightstar Signs Major Drill for Equity Agreement with Topdrill"},"content":{"rendered":"

Brightstar Resources Ltd<\/strong> (ASX: BTR) (Brightstar) is pleased to announce it has executed a significant drill-for-equity agreement with Topdrill Pty Ltd (Topdrill) which complements the existing arrangement and underpins the strong working relationship between Brightstar and Topdrill. <\/p>\n

HIGHLIGHTS<\/strong><\/p>\n

Brightstar and Topdrill have executed a drill-for-equity agreement worth $4 million, whereby up to 50% of future drilling services invoiced by Topdrill can be paid in Brightstar ordinary sharesThe agreement with Topdrill cornerstones Brightstar\u2019s multi-drill rig exploration program to aggressively advance the consolidated Sandstone Project post the completion of the transactions with Alto Metals Ltd and Gateway Mining Ltd1This $4 million drill-for-equity arrangement is in addition to an existing $1million agreement with Topdrill and further enhances Brightstar\u2019s financial capacity to deliver on its multi hub exploration and development strategyAt Brightstar\u2019s election, equity issued via the arrangement is to be voluntarily escrowed for six months and will be issued at the 20-Day VWAP on the invoice date<\/p>\n

Brightstar\u2019s Managing Director, Alex Rovira, commented<\/strong><\/p>\n

\u201cWe are pleased to expand materially upon the strong relationship with Topdrill and the existing drill-for-equity agreement, which aligns with our strategic ambition of partnering with tier 1 industry partners as we seek to genuinely build a WA-focused gold exploration, development and production business in a rising gold price environment.<\/em><\/p>\n

The significant investment offers a cost-effective approach to enhance our aggressive exploration plans across Brightstar\u2019s growing gold project portfolio and demonstrates Topdrill\u2019s confidence in Brightstar\u2019s team, Brightstar\u2019s assets and development plan of organically growing gold production to become a material, multi-asset producer in Western Australia.<\/em><\/p>\n

It is fantastic to see Topdrill\u2019s commitment to not only Brightstar, but a number of emerging ASX-listed WA gold exploration companies with promising projects. This funding assistance, against the backdrop of continuing challenging equity capital markets, to effectively enable companies to drill more holes and discover more gold, is great to see and has a meaningful benefit to the junior exploration sector. Brightstar applauds Tim Topham and the team for this approach to working with the junior resources sector to enable more exploration and potential discoveries in WA. <\/em><\/em><\/p>\n

Brightstar is currently completing a +30,000m RC and DD drilling program across the Company\u2019s Menzies and Laverton asset base, with the drilling expected to complete in September. Results from these programs, both infill and extensional in nature, will be used in future Mineral Resource Estimate upgrades and will feed into Brightstar\u2019s definitive feasibility study underway.<\/p>\n

Subject to the successful completion of the Gateway Mining Ltd and Alto Metals Ltd transactions, expected for completion in September and November respectively, Brightstar anticipates mobilising a drill rig for infill and extensional drilling programs across the Gum Creek and Sandstone properties to advance the projects meaningfully towards mining studies and ultimate commercialisation of the significant mineral resource endowment. <\/p>\n<\/p>\n

Click here for the full ASX Release<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Brightstar Resources Ltd (ASX: BTR) (Brightstar) is pleased to announce it has executed a significant drill-for-equity agreement with Topdrill Pty Ltd (Topdrill) which complements the existing arrangement and underpins the strong working relationship between Brightstar and Topdrill. HIGHLIGHTS Brightstar and Topdrill have executed a drill-for-equity agreement worth $4 million, whereby up to 50% of future […]<\/p>\n","protected":false},"author":0,"featured_media":9496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-9495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/9495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=9495"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/9495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/9496"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=9495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=9495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=9495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}