Australia's Brightstar Resources drops on discounted placement

Brightstar Resources

02/02/2026 24:43

** Shares of Brightstar Resources BTR.AX fall as much as 24.6% to A$0.475, their lowest level since December 11

** Gold miner receives firm commitments to raise A$175 million ($121.94 million) via placement

** Issue price of A$0.50 per share represents a discount of 20.6% to stock's last close

** Co says funds raised will be used to provide equity component for development and construction of Goldfields Hub Project, others

** About 12.9 million shares change hands, 1.8x the 30-day average

** Stock up 27.3% this year, as of last close

($1 = 1.4351 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))