Brightstar Resources has secured approval from the Supreme Court of Western Australia (WA) and the shareholders of Aurumin to acquire all fully paid ordinary shares and options in the gold exploration company.
The transaction, executed via a court-sanctioned share and option scheme of arrangement under Part 5.1 of the Corporations Act 2001, will result in Aurumin shareholders receiving new Brightstar options as all Aurumin options are cancelled.
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With the court’s approval in place, Aurumin plans to lodge a copy of the court orders with the Australian Securities and Investments Commission on 21 November 2025, making the schemes legally effective.
The Australian Securities Exchange is then expected to suspend trading of Aurumin shares from the close of trading on the same day.
The integration of Brightstar and Aurumin’s assets is progressing at the Sandstone gold project, where six drilling rigs are currently operating.
The joint effort is focused on expanding the mineral resource estimate (MRE) and infill drilling at key deposits to enhance confidence in resource classification.
Brightstar managing director Alex Rovira said: “We are delighted to see the overwhelming support from Aurumin securityholders for the schemes. This is the first time in over a decade the Sandstone Greenstone Belt has been consolidated under one ownership, with production last occurring in Sandstone when the gold price was less than A$1,000 ($647)/oz.
“Despite the limited systematic exploration history as a result of the fragmented ownership, upon completion of the schemes, Brightstar will emerge with a mineral resource of approximately 2.4moz [million ounces] @ 1.5g/t [grams per tonne] at the Sandstone Gold Project that is largely constrained within the top 150m from surface.
“Notably, we see significant potential for mineral resource growth following the ~70,000m of drilling already completed in Sandstone by Brightstar, with a targeted ~120,000m of drilling planned for completion prior to the pre-feasibility study targeted for release in mid-2026.”
Upon completion of the scheme, the consolidated MRE at Sandstone will increase to 2.4moz at 1.5g/t gold on a pro forma basis, with the combined group’s total MRE rising to 3.9moz at 1.5g/t gold.
A mineral resource upgrade for Sandstone is scheduled for release in the first half of 2026 (H1 2026), following more than 70,000m of exploration drilling completed to date.
Workstreams continue on the consolidated pre-feasibility study, with mining engineering, metallurgical, geotechnical, approvals and permitting activities advancing to expedite the development of the Sandstone gold project.
The final investment decision for Sandstone is targeted for H2 of calendar year 2027.
The progress of the Sandstone project, together with the near-term production expansion of Brightstar’s Menzies-Laverton asset base, supports Brightstar’s production target of more than 200,000oz per annum.
Rovira added: “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.
“The development of our Menzies, Laverton and Sandstone Gold Projects is central to delivering on our vision and positioning Brightstar as an emerging mid-tier Western Australian gold producer.”
In September this year, Brightstar secured approval from the Department of Mines, Petroleum and Exploration for its Lord Byron project, situated around 85km south-east of Laverton, WA.
