Capital Financing
Brightstar Resources raises A$82 million via single-tranche placement at A$0.50 per share
Amount raised
A$82 million
Before costs
Issue price
A$0.50 per New Share
Securities issued
164 million new shares
Fully paid ordinary shares
Settlement or listing date
3 November 2026
Allotment and commencement of trading. Settlement expected 2 November 2026
Summary
Brightstar Resources Limited has received binding commitments to raise A$82 million of new equity (before costs) via a single-tranche placement of 164 million new fully paid ordinary shares at an issue price of A$0.50 per New Share. Genesis Minerals Limited subscribed for A$30 million as a cornerstone investor, and the company states Genesis will hold approximately 5.4% of Brightstar’s ordinary shares on completion. The company states the proceeds will fund an accelerated work program at the Sandstone Gold Project. Settlement is expected on 2 November 2026, with allotment and commencement of trading on 3 November 2026.
Offer terms
| Term | Detail |
|---|---|
| Instrument | 164 million new fully paid ordinary shares, ranking equally with existing shares on issue |
| Tranches | Single tranche |
| Price | A$0.50 per New Share |
| Discount | 12% to the last closing price of A$0.565 on 22 October 2026 and 19% to the 30-day volume weighted average price of A$0.62 per share |
| Shareholder approval | Not subject to shareholder approval. New Shares to be issued under the company’s existing placement capacity pursuant to ASX Listing Rule 7.1 |
Use of proceeds
- Infill drilling at the enlarged Two Mile Hill to support the underground mining study and further conversion of the Mineral Resource Estimate ahead of the Definitive Feasibility Study
- Extensional drilling at the Shirvington Zone, expanding the ~6,500m follow-up program that commenced this week, to define the extent of the tonalite at depth and deliver further Mineral Resource Estimate updates
- Drill testing of the multiple, nearby Two Mile Hill analogue targets identified within the Sandstone tenure
- Enlarged and accelerated Definitive Feasibility Study drilling across the Sandstone tenure package
- Immediate progression to a Definitive Feasibility Study to encapsulate a more comprehensive underground mining study of Two Mile Hill being advanced with Entech
- Infrastructure and mining establishment, together with the development of a Sandstone camp, to support the underground development of an exploration decline to de-risk the expanded drilling programs at Two Mile Hill and fast-track future mining operations at Sandstone
- General working capital
Timetable
| 2 November 2026 | Settlement of the Placement expected |
|---|---|
| 3 November 2026 | Allotment and commencement of trading of the New Shares |
Source: Brightstar Resources announcement dated 27 October 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
