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    High-Grade Sandstone Hub Drilling And PFS Progress Could Be A Game Changer For Brightstar Resources (ASX:BTR)

    Simply Wall St·12/10/2025 15:18:50
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    • Brightstar Resources has reported outstanding high-grade gold drilling results at its Sandstone Hub in Western Australia, including standout intercepts at the Bull Oak and Havilah deposits, while also confirming the past resignation of Non-Executive Director Ashley Fraser effective 2 December 2025.
    • By running six drill rigs and feeding new data into an updated Pre-Feasibility Study due in 2026, Brightstar is sharpening its understanding of Sandstone Hub’s economic potential and its role as a consolidator in the region’s goldfields.
    • We’ll now examine how these high-grade Sandstone Hub drill results and the progressing Pre-Feasibility Study shape Brightstar’s broader investment narrative.

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    What Is Brightstar Resources' Investment Narrative?

    To be comfortable owning Brightstar today, you need to believe that its Sandstone and Laverton hubs can transition from high‑grade drill hits and maiden campaigns into a coherent, financeable gold production story, despite ongoing losses of A$46.07 million and regular equity raisings. The latest Sandstone Hub drilling results feed directly into the updated 2026 Pre‑Feasibility Study, which looks like the key near‑term catalyst, while also helping to justify Brightstar’s aspiration to act as a regional consolidator. Running six rigs suggests a push to convert intercepts into higher‑confidence resources, but it also reinforces the funding and dilution risk if cash burn stays elevated. By contrast, Ashley Fraser’s resignation as Non‑Executive Director appears unlikely to materially change the near‑term outlook, given prior board turnover and the existing management bench.

    However, the company’s need for fresh capital remains a critical issue investors should understand. According our valuation report, there's an indication that Brightstar Resources' share price might be on the cheaper side.

    Exploring Other Perspectives

    ASX:BTR 1-Year Stock Price Chart
    ASX:BTR 1-Year Stock Price Chart

    Thirteen fair value estimates from the Simply Wall St Community span from around A$0.02 to just under A$15.80 per share, showing how far apart private investors can be. When you set that against Brightstar’s heavy recent losses and reliance on successful Sandstone and Laverton execution, it underlines why many market participants are weighing upside potential against the risk of further dilution and project slippage.

    Explore 13 other fair value estimates on Brightstar Resources - why the stock might be worth less than half the current price!

    Build Your Own Brightstar Resources Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.