Brightstar Resources Limited (AU:BTR) has released an update.
Brightstar Resources Limited has expanded its collaboration with Topdrill through a new $4 million drill-for-equity agreement, aimed at boosting exploration efforts at the Sandstone Project following transactions with Alto Metals Ltd and Gateway Mining Ltd. The deal allows for half of Topdrill’s future drilling services to be compensated in Brightstar shares, which may be escrowed for six months. This arrangement strengthens Brightstar’s exploration and development strategy in the face of challenging capital markets, showcasing Topdrill’s confidence in the company’s potential within the WA gold sector.
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