{"id":7468,"date":"2024-03-20T23:38:16","date_gmt":"2024-03-20T23:38:16","guid":{"rendered":"https:\/\/economicherald.net\/?p=7468"},"modified":"2024-03-20T23:38:16","modified_gmt":"2024-03-20T23:38:16","slug":"with-gold-punching-above-3300-oz-brightstars-selkirk-is-reaping-the-rewards-of-all-time-high-prices","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7468","title":{"rendered":"With gold punching above $3,300\/oz, Brightstar\u2019s Selkirk is reaping the rewards of all-time high prices"},"content":{"rendered":"

Selkirk JV completed, producing 8,049oz gold
\nSales to the Perth Mint expected to fetch >$3,300oz
\nBrightstar to continue proving up its larger-scale Menzies-Laverton projects<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: The small-scale mining of Brightstar Resources\u2019 Selkirk JV with BML Ventures is now complete, producing a total of 8,049.6oz gold from 43 gold dor\u00e9 bars.<\/strong><\/p>\n

It\u2019s dor\u00e9 for the explorer as gold digger Brightstar Resources (ASX:BTR)<\/strong><\/a> proves that small-scale mining of deposits around its overall +1Moz Menzies and Laverton projects is great business, especially with gold prices hitting all-time highs >$3,300oz.<\/p>\n

BTR\u2019s strategy has been to monetise small-scale deposits that otherwise wouldn\u2019t be developed to fund its surrounding, large-scale project ambitions.<\/p>\n

To date, 5,546oz out of the 8,049.6oz produced from Selkirk has been sold to the Perth Mint after refining at an average realised sale price of an eye-whopping $3,306\/oz.<\/p>\n

Quick-fire calculations measure that total sales revenue from Selkirk will come in at ~$26.61 million.<\/p>\n

The JV model had pegged revenue from Selkirk at $2,850\/oz, so sales to The Perth Mint have significantly exceeded expectations due to additional recovered ounces and the higher realised gold price for the bars.<\/p>\n

\u00a0<\/p>\n

Right place, right time, right partner<\/strong><\/h2>\n

Total costs for the JV are still being finalised and reconciled and once approved, net project income will be split 50\/50 between BTR and its partner BML Ventures, while total project costs are expected to be within $12-13 million.<\/p>\n

BTR managing director Alex Rovira says gold processing of our Selkirk Mining JV material has safely and successfully concluded by the team at Genesis Minerals\u2019 (ASX:GMD)<\/strong><\/a> Gwalia operation.<\/p>\n

\u201cTheir assistance, along with JT Metallurgists acting on behalf of the joint venture, has seen the successful processing of ore from the Menzies gold project into dor\u00e9 bars poured at record high gold prices,\u201d Rovira says.<\/p>\n

\u201cIn parallel with the finalisation of gold-in-circuit calculations, which is expected to occur shortly, we are also finalising the joint venture accounts and making provisions for rehabilitation and waste dump seeding to achieve best practice environmental outcomes.<\/p>\n

\u201cWith the Selkirk JV all but concluded, we continue our focus on building the company into a meaningful gold producer and look forward to updating the market with finalised accounts and announcing the reconciled 50% profit share value attributable to Brightstar.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Brightstar Resources, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post With gold punching above $3,300\/oz, Brightstar\u2019s Selkirk is reaping the rewards of all-time high prices<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Selkirk JV completed, producing 8,049oz gold Sales to the Perth Mint expected to fetch >$3,300oz Brightstar to continue proving up its larger-scale Menzies-Laverton projects \u00a0 [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7469,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nWith gold punching above $3,300\/oz, Brightstar\u2019s Selkirk is reaping the rewards of all-time high prices - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7468\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With gold punching above $3,300\/oz, Brightstar\u2019s Selkirk is reaping the rewards of all-time high prices - 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