Brightstar Resources has locked down five exploration licences from Panther Metals, taking full control of the Mikado gold project located right beside its Laverton processing hub.
The ASX-listed gold developer will hand over $350,000 from existing cash holdings for the tenements. Construction of a haul road linking the Fish underground and Lord Byron open pit operations to the plant starts immediately, even before the formal tenement transfer completes.
Securing Mikado gives Brightstar uninterrupted ownership of the entire plant precinct. As a result, haulage expenses across the Laverton operation should drop over the life of both mining projects.
The acquisition also opens up new ground for water exploration and borefield development. Meanwhile, the expanded landholding supports a long-term strategy for larger tailings storage capacity.
**Future-Proofing Laverton**
Managing director Alex Rovira called the Mikado ground “highly strategic,” pointing to expansion potential from the current 1.5 million tonnes per annum throughput to 2.5Mtpa within the Laverton infrastructure corridor.
“Securing this tenure outright for a modest cash outlay consolidates our control of the plant precinct and provides a footprint for the water, tailings, and haul road access infrastructure that will support the Laverton hub over the long-term,” he said.
Rovira described the deal as disciplined and low-cost, one that reinforces the Goldfields project’s foundations.
Brightstar remains on track for a mid-2027 production start. A January feasibility update projected annual output exceeding 75,000 ounces across six years, generating $1 billion in life-of-mine cash flow, a $606 million net present value, and a 74% internal rate of return.
