Brightstar raises A$180m to fund WA gold growth

Mon Feb 02 2026

Gold miner Brightstar Resources on Monday unveiled a A$180-million capital raise through a A$175-million institutional placement and a A$5-million share purchase plan to fund growth in gold production across its Western Australian portfolio.

The company will issue 350-million new shares at A$0.50 a share under a two-tranche placement, with the offer price representing a 9.5% discount to the 20-day volume-weighted average price. The raising was supported by existing and new tier-one institutional investors, with Canaccord Genuity acting as sole lead manager and bookrunner.

Tranche 1 will raise about A$52.5-million under Brightstar’s existing placement capacity, while Tranche 2, targeting A$122.5-million, is subject to shareholder approval expected in early March.

Brightstar will also offer eligible shareholders the opportunity to invest up to A$30 000 each through a share purchase plan, targeting a further A$5-million.

Proceeds will fully fund the equity requirements for development of the Goldfields Hub project and advance the Sandstone Gold project to final investment decision.

The capital raising follows the release of the updated Goldfields definitive feasibility study, which outlines average annual production of more than 75 000 oz over an initial six-year mine life and project free cash flow of about A$1-billion at a gold price of A$6 000/oz.

“The near-term development of our Goldfields Hub, as shown in our DFS 2.0, enables Brightstar to underpin its position as an emerging Western Australian gold producer with a significant growth profile that will generate outstanding financial metrics and unlock significant value for our shareholders," commented MD Alex Rovira.

“To emerge with all the equity funding required to build our Goldfields Hub, as well as a substantial budget that enables accelerated pre-development activities at Sandstone and to fully fund Sandstone to FID, is an amazing opportunity for Brightstar that enables us to maintain the momentum of de-risking our portfolio of advanced gold projects," he added.

Rovira said the strong investor support validated the quality of the company’s assets and its development strategy.

Brightstar is targeting a final investment decision in March 2026, with construction of a 1.5-million-tonne-a-year processing plant planned to support first gold production in mid-2027.