Brightstar Resources Ltd. has received court approval to acquire Aurumin Ltd., paving the way for the consolidation of the Sandstone Greenstone Belt under one ownership.
The Supreme Court of Western Australia approved Brightstar’s acquisition of 100 per cent of Aurumin’s fully paid shares.
Aurumin will lodge the court’s orders with the Australian Securities and Investments Commission on November 21. Aurumin shares are also expected to be suspended from trading on the ASX on the same day.
Brightstar Resources Managing Director Alex Rovira said: “This is the first time in over a decade the Sandstone Greenstone Belt has been consolidated under one ownership.
“Upon completion, Brightstar will emerge with a mineral resource of approximately 2.4 million ounces (Moz) at 1.5 grams per tonne (g/t) largely within the top 150 metres from surface.
“In our view, the Sandstone district potentially represents one of the largest undeveloped gold projects in the WA goldfields in the hands of a junior/emerging company, with the potential for a multi-decade mine life across both open pit and underground operations.”
Brightstar and Aurumin operate six drilling rigs at the Sandstone gold project, targeting mineral resource estimate growth and infill drilling of key deposits.
A mineral resource upgrade for Sandstone is targeted for release in the first half of 2026, following significant exploration drilling over the last 12 months. Brightstar is targeting a final investment decision for the second half of 2027.
The successful development of Sandstone, along with the near-term production expansion of Brightstar’s Menzies-Laverton asset base, underpins the company’s production target of more than 200,000 ounces per annum.
