Brightstar Resources Limited ( (AU:BTR) ) has shared an update.
Red Hill Minerals Limited, a company focused on building a diversified commodity royalty portfolio, has announced the acquisition of a 2% Gross Revenue Royalty over the Sandstone Gold Project tenements. This strategic move aligns with Red Hill’s goal to expand its royalty holdings across various commodities and projects. The Sandstone Gold Project, part of Brightstar Resources Limited’s assets, covers approximately 443 km² and has a significant mineral resource. The acquisition involves a cash payment of $4 million and contingent payments based on future production. This acquisition marks a significant step for Red Hill in diversifying its portfolio and reflects confidence in Brightstar’s ability to develop the project.
More about Brightstar Resources Limited
YTD Price Performance: 2.00%
Average Trading Volume: 1,139,407
Technical Sentiment Signal: Sell
Current Market Cap: A$241M
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