Apr 20, 2026: East Coast Research: Leadership Talks with Brightstar Resources (ASX:BTR) Managing Director Alex Rovira

Plain text link: https://www.youtube.com/watch?v=k_D30O70sAs

https://brightstarresources.com.au/

Note: BTR already produce gold, however that's via an Ore Purchase Agreement (OPA) with Genesis Minerals (GMD) so GMD are producing gold for BTR (using BTR's ore) at GMD's Laverton Mill, however GR Engineering Services (GNG) are now building a brand new gold mill at Laverton for Brightstar (BTR), so BTR will be producing gold next calendar year from their own mill. This is important because Genesis (GMD) are going to fill up their own Laverton mill from their own ore, with part of that ore coming from the Lady Julie deposit that GMD are currently acquiring via the the acquisition of Magnetic Resources (MAU).

Here's an excerpt from BTR's Record Processing Campaign Delivers 7,900oz Au Production announcement yesterday (Monday 20th April):

Disc: I hold BTR shares in my SPF (speculative company portfolio). I rate them as still being "speculative" because they are developing two new mills, so there is execution risk. Not exploration risk any more, but a different type of risk. But there is still risk with this company that does not exist to anywhere near the same extent with an established gold producer, particularly a gold producer who is producing from 2 or more of their own mills, like GMD. My approach to this sort of risk is via position sizing, so higher risk companies are smaller positions for me, and lower risk companies tend to be larger positions. BTR is currently the largest position in my SPF (speccy portfolio) but all of the positions in that portfolio are sub-$25K, with most being $5K to $12K each (current market value), and in my SMSF, IPF (income portfolio) and pending ISA (income stream account), position sizes are/will be, on average, at least 3 times that big, with individual positions in those other PFs ranging from $50K up to $150K, so I don't throw the farm at companies like Brightstar, but I still like to have some exposure because of the potential upside. Currently BTR is one of 14 positions in my SPF.

23-Nov-2024: East Coast Research: Brightstar Resources Limited - On the way to becoming a serious WA gold producer [.pdf]

Here's the first page (below) - click on the link above for the full 54 page report.

Disclosure: Not Held.

Spending some time writing about another gold junior

I find Brightstar interesting because the MD is Alex Rovira, incidentally the son of Tony Rovira who made the Andover Lithium Discovery for Azure Minerals (AZS) and is now undergoing a takeover.

So Tony is obviously young, energetic and full of ambition and is starting to make progress after being recently appointed.

With mainly an investment background, he has also attracted a bit of controversy in the past stating Capricorn metals Karlawinda project will be a challenge to make it profitable. I can't remember when he said this but it must have been during Covid while Karlawinda was being brought online.

Negatives:

Going to pick a few slides from Oct 2023 investor presentation which have a few question marks.

Ranking Brightstar against Capricorn and making an obvious error that Capricorn is not a producer.

Another slide showing production summary. Would be good if the chart forms a flat line.

Brightstar also has near term cashflow in Feb 2024 from the Selkirk JV. I actually see as a risk since Genesis Minerals could get cheeky and delay the processing from Selkirk while instead process their own ore from Gwalia or other mines.

Postives:

On a positive note, Brightstar did manage to raise 5m from investors recently showing Alex has ability to attract capital and sell a project with his investment banking credentials

Another big positive - Alex Rovira has been heavily buying on market buyer

Finally the potential of Lithium which seems to still be all the rage although prices have been down.