Brightstar Resources Limited · ASX:BTR
Brightstar Resources — Shareholder Meeting (November 2024)
25 slides from Brightstar Resources's shareholder meeting presentation, Nov 27, 2024
Slide 1: Building a Growing West Australian Gold Producer – Annual General Meeting
BUILDING A GROWING WEST AUSTRALIAN GOLD PRODUCER ANNUAL GENERAL MEETING NOVEMBER 2024
Slide 2: Important Notices & Disclaimers
Important Notices & Disclaimers Important Notices This presentation (Presentation) has been prepared by Brightstar and has been authorised for release by the Board of Directors of Brightstar on the basis it is to be read in conjunction with these important notices and disclaimers. Disclaimer • This
Slide 3: Important Notices & Disclaimers – JORC Compliance Statement
Important Notices & Disclaimers JORC (2012) Compliance Statement Brightstar Mineral Resources • This presentation contains references to Mineral Resource estimates , extracted from the ASX announcements titled “Aspacia deposit records maiden Mineral Resource at the Menzies Gold Project” dated 17 Apr
Slide 4: Growth-focused West Australian junior gold producer
Growth-focused West Australian junior gold producer Location, Mineral Resources & Assets Location: Laverton, Menzies & Sandstone Mineral Resources: 3.0Moz at 1.5g/t Au Laverton Hub: 862koz @ 1.8g/t Au Production: Second Fortune Development: Cork Tree Well, Lord Byron, Fish Exploration: Alpha Asset P
Slide 5: How did we get here
How did we get here 1 ~7x increase in JORC Mineral Resources and ~26x increase in market capitalisation in two years 2022 2023 2024 Corporate Activity Dec ‘22: Q2’23: Q1’24: Q3’24: Q4’24: • Board refresh • Kingwest Scheme • Takeover of Linden Gold • Gateway acquisition • Alto Scheme 2 • Kingwest Sch
Slide 6: The Last 12 Months | Review
The Last 12 Months | Review Value Accretive Deals Mining Activities Economic Studies Off-market takeover of gold producer Linden Gold Completed the Selkirk Mining JV in Menzies Jasper Hills Scoping Study Successfully produced 7.5koz Au and generated A$41 million equity raised 141koz Au mined over 4
Slide 7: Corporate Snapshot | Current
Corporate Snapshot | Current 1 Key Metrics Key Shareholders Board of Directors Research Coverage (Proforma incl AME Scheme Consideration) (Proforma) Richard Crookes Non-Executive Chairman $0.026 Share Price Alex Rovira Managing Director $263m Andrew Rich Market Capitalisation Executive Director Ashl
Slide 8: Sensible Consolidation of the WA Goldfields
SENSIBLE CONSOLIDATION OF THE WA GOLDFIELDS A district-scale resource base Near term development / monetisation Significant organic exploration upside
Slide 9: Sandstone Gold Project | Scale & Upside
Sandstone Gold Project | Scale & Upside A highly attractive land package with +1Moz Au in Mineral Resources with material brownfields and greenfields exploration potential Strategic ground position covers +740km2 over the Sandstone Greenstone Belt, in Western Australia o Located at the confluence
Slide 10: Montague East Project – Strategic, shallow oxide ounces
Montague East Project – Strategic, shallow oxide ounces 0.5Moz of Mineral Resources within a +1Moz Au endowed belt immediately adjacent BTR tenure Projects Acquired: o 19 tenements acquired by Brightstar, covering ~450km2 within the Gum Creek Greenstone Belt o Located 70km NNE of Alto’s Sandstone Go
Slide 11: Laverton Hub: Cork Tree Well, Alpha, Beta
Laverton Hub: Cork Tree Well, Alpha, Beta Strategic Laverton assets to provide critical mass for potential restart and upgrade of the Brightstar mill with DFS underway Existing Northern Laverton portfolio is spread across multiple project areas: o Cork Tree Well (6.4Mt @ 1.4g/t Au for 303koz Au) o A
Slide 12: Laverton Hub: Second Fortune Gold Mine
Laverton Hub: Second Fortune Gold Mine Mining: Second Fortune was brought out of care & maintenance in 2021 and has subsequently mined ~0.4Mt ore @ 3.6g/t Au (incl. lower grade development ore) with 22 parcels processed at Gwalia Brightstar operates an owner-operator model with its own fleet and wor
Slide 13: Laverton Hub: Jasper Hills Gold Project | Mine Ready
Laverton Hub: Jasper Hills Gold Project | Mine Ready Lord Byron OP provides potential ‘base load’ processing feed and Fish UG provides potential higher-grade mill feed Jasper Hills is located 50km from Brightstar’s existing processing facility along a wholly-owned private haul road, allowing unimped
Slide 14: Jasper Hills Exploration | Lord Byron + Fish Mines
Jasper Hills Exploration | Lord Byron + Fish Mines ~14km of RC / DD drilling completed for DFS and near-term mine planning Recent drilling completed for the DFS underway, with MRE update pending for Lord Byron and Fish The Fish deposit is proposed to be an underground mine from the existing open pit
Slide 15: Menzies Hub | Overview
Menzies Hub | Overview Consists of a tenement holding of a contiguous land package of granted mining leases over a strike length of +20km Majority of deposits are hosted along the Menzies Shear Zone and located adjacent to Goldfields Highway in Menzies (130km north of Kalgoorlie) A series of histori
Slide 16: Step Change in Mineral Resources in CY24: 1Moz to 3Moz
Step Change in Mineral Resources in CY24: 1Moz to 3Moz Pro forma resource base establishes Brightstar at top end of ASX WA gold developer landscape and provides further re -rate opportunity 3.0Moz 3.0Moz 2.4Moz 2.3Moz 2.1Moz 1.9Moz 1.8Moz 1.8Moz 1.5Moz 1.3Moz 1.3Moz 1.2Moz 0.9Moz 0.9Moz 0.7Moz Pro F
Slide 17: Attractive acquisition multiples
Attractive acquisition multiples Strong M&A activity for ASX-listed WA pre-production gold assets transacting at ~A$106/oz (EV/Resource ounce) – AUD gold price has achieved record levels since… stage is set for material value build to the benefit of all new and existing Brightstar shareholders Enter
Slide 18: Brightstar team to execute
Brightstar team to execute Aligned team with skills to execute – exploration, resource growth, studies, mine development, finance and production ANDREW RICH DEAN VALLVE TIM CLARKE Mine Development & EXECUTIVE DIRECTOR - OPERATIONS CHIEF OPERATING OFFICER ENVIRONMENTAL MANAGER Linden – Joined BTR Jun
Slide 19: Brightstar value proposition – TARGET200
Brightstar value proposition – TARGET200 Building the next Western Australian mid-tier gold producer 1 Focused on logical and strategic consolidation targeting undervalued and mineable ounces in Western Australia 2 Existing production, record AUD gold price and processing infrastructure - lower risk
Slide 20: Appendices
Appendices
Slide 21: Appendix 1: Brightstar Mineral Resources
Appendix 1: Brightstar Mineral Resources Location Cut-off Measured Indicated Inferred Total g/t Au kt g/t Au koz kt g/t Au koz kt g/t Au koz kt g/t Au koz Alpha 0.50 623 1.6 33 374 2.1 25 455 3.3 48 1,452 2.3 106 Beta 0.50 345 1.7 19 576 1.6 29 961 1.7 54 1,882 1.7 102 Cork Tree Well 0.50 - - - 3,03
Slide 22: Appendix 2: Montague East Gold Project Mineral Resources
Appendix 2: Montague East Gold Project Mineral Resources Location Cut-off Measured Indicated Inferred Total g/t Au Mt g/t Au koz Mt g/t Au koz Mt g/t Au koz Mt g/t Au koz Montague-Boulder 0.60 - - - 0.5 4.0 67 2.6 1.2 96 3.1 1.6 163 Whistler 0.50 - - - - - - 1.7 2.2 120 1.7 2.2 120 Evermore 0.60 - -
Slide 23: Appendix 3: Sandstone Mineral Resources
Appendix 3: Sandstone Mineral Resources Location Cut-off Measured Indicated Inferred Total CONSTRAINED (April 2023) g/t Au Mt g/t Au koz Mt g/t Au koz Mt g/t Au koz Mt g/t Au koz Lord Nelson 0.50 - - - 1.5 2.1 100 3.5 1.4 163 5.0 1.6 263 Lord Henry 0.50 - - - 1.6 1.5 77 0.3 1.2 13 1.9 1.4 90 Vanguar
Slide 24: Appendix 4: Peer Comparison & References
Appendix 4: Peer Comparison & References CODE COMPANY STAGE MEASURED (Koz) INDICATED (Koz) INFERRED (Koz) TOTAL RESOURCE (Moz) GRADE (g/t) SOURCE DATE MAU Magnetic Resources Resource 1,259 569 1.83 1.8 LJN4 – 1.49Moz MRE and Still Growing 2/07/2024 - GBR Great Boulder Resources Resource 340 327 0.67
Slide 25: Appendix 5: Recent M&A References
Appendix 5: Recent M&A References Pre-production WA Gold M&A Peer Comparison Information & References Total Deal Value EV/oz Measured Indicated Inferred Grade Acquirer Target Stage Date Resource Source ($m) ($/oz) (koz) (koz) (koz) (g/t Au) (koz) Northern Star Strickland Minerals Resource Jun-23 $61
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