Brightstar retracts implied Sandstone production and growth targets from investor presentation

Brightstar Resources Limited ( (AU:BTR) ) has issued an update.

Brightstar Resources has moved to clarify and retract elements of a March investor presentation that may have been interpreted as production targets for its Sandstone project. The company said its previously disclosed evaluation of a 4–5Mtpa central processing facility was intended only as material context for a possible future operation, not as an implied production profile, and has now been withdrawn pending completion of detailed studies.

The company also retracted references to potential Sandstone production in its growth targets and a conceptual mill throughput versus head grade table, stressing these were illustrative and not based on its specific mineral resources. In addition, Brightstar withdrew its stated long-term growth targets for mineral resources and ore reserves, acknowledging these were too specific and could be seen as forecasts, and advised investors not to rely on any of the withdrawn information until it has sufficient grounds to publish formal production or reserve targets.

The most recent analyst rating on (AU:BTR) stock is a Buy with a A$2.40 price target. To see the full list of analyst forecasts on Brightstar Resources Limited stock, see the AU:BTR Stock Forecast page.

More about Brightstar Resources Limited

Brightstar Resources Limited is an Australian gold exploration and development company listed on the ASX under the code BTR. The company is advancing the Sandstone gold project in Western Australia, where it holds a substantial mineral resource base and is studying potential processing and production options.

Average Trading Volume: 9,720,599

Technical Sentiment Signal: Sell

Current Market Cap: A$450.1M

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