Latest news with #Brightstar
West Australian
21-07-2025
- Business
- West Australian
Aurumin gives nod to Brightstar merger for Sandstone gold consolidation
A compelling link-up between Aurumin Limited and Brightstar Resources will see the consolidation of their respective Sandstone gold assets into a major gold resource, about 520 kilometres northeast of Perth in Western Australia's Goldfields region. Both companies announced today that they have entered a scheme implementation deed, under which Aurumin will propose a scheme of arrangement between the company and its shareholders. The scheme will pave the way for a scrip-based deal enabling Brightstar to acquire Aurumin via one Brightstar share for every four Aurumin shares. The scheme consideration implies a value of 12 cents per Aurumin share, based on a 48c price per Brightstar share. The 48c share price is based on binding commitments Brightstar has received to raise $50 million before costs from a placement priced at the 48c level to fast-track the company's growth plans across its impressive gold portfolio. Notably, the placement is not conditional on completion of the share scheme. A value of 12c per Aurumin share represents a 21 per cent premium to its 9.9c closing price last Friday, July 17, and a 20 per cent premium to the company's share price of 10c on June 27, when the initial joint announcement revealed merger discussions between the two firms. Additionally, the 12c share price is a 27 per cent jump above Aurumin's 30-day volume-weighted average price of 9.4c. The scheme consideration also implies an equity value of $60 million for Aurumin and an enterprise value of $62 per gold ounce, based on the company's mineral resource of 950,000 ounces grading 1.5 grams per tonne (g/t) gold. Aurumin's board hold 16 per cent of Aurumin's issued shares and has unanimously recommended the share scheme. All the company directors intend to vote in favour of the scheme, in the absence of a superior proposal and subject to an independent expert concluding the share scheme is in the best interest of Aurumin shareholders. Brightstar Resources managing director Alex Rovira said: 'This is a compelling transaction for all stakeholders, and we believe that combining Aurumin and Brightstar represents a unique opportunity to build a Western Australian gold business of genuine scale with demonstrable upside that also de-risks future development activities and operations at Sandstone.' Bringing the two companies' adjacent tenement portfolios under one roof would eliminate the ownership fragmentation that has long frustrated development in the Sandstone district. The result would provide for a single gold development opportunity on granted mining leases with scale, grade and location, enabling the project to fast-track into production. Brightstar would deliver gold-rich assets such as its Lord Nelson and Lord Henry deposits, and the Vanguard and Indomitable Camps, to the merger. The company's global resource sits within 13 deposits and totals 1.553 million ounces running at 1.5g/t gold. Aurumin would contribute its Two Mile Hill underground resource and its 570,000 ounces, in addition to a suite of shallow open pit opportunities, including Shillington and Plum Pudding. Aurumin also holds an important asset with its dormant 500,000 tonne-per-annum carbon-in-leach plant. While it hasn't been fired up for a few years, the facility is fully licensed and has permitted tailings storage, a water bore field and an on-site camp. Even better, it sits on freehold land, 12km from the Sandstone township. Notably, nearly all the resources from both companies sit on granted mining leases, providing a solid foundation for mine planning and permitting. If the scheme proceeds to completion, Brightstar will move up the ranks of WA's current crop of developers and producers. It will hold an impressive, combined mineral resource of 2.4M ounces of gold at 1.5g/t from the combined Sandstone assets and a hefty mineral resource of 3.9M gold ounces across its Sandstone, Laverton and Menzies projects. Upon receiving the placement proceeds of $50 million, Brightstar will be sitting on a $63 million mountain of cash. It will control a strategic 1600 square kilometre patch of ground in Sandstone, enabling the company to establish a district-scale open pit development opportunity. It plans to unveil a preliminary feasibility study on the consolidated asset base in the first half of next year. After completion of the scheme, Brightstar shareholders will comprise about 82 per cent of the merged entity, with Aurumin shareholders accounting for the remaining 18 per cent. Aurumin shareholders are expected to benefit from more exposure to Brightstar's WA gold projects, share ownership in a larger WA-based gold company that may offer enhanced trading liquidity and a possible positive market re-rating, along with a potentially shorter timeframe to develop its Central Sandstone project. The Sandstone region has always been considered highly prospective for a major gold mining operation - this time that expectation might be realised. Is your ASX-listed company doing something interesting? Contact:
Business Upturn
30-06-2025
- Business
- Business Upturn
Brightstar Capital Partners Completes Acquisition of PlayAGS for Approximately $1.1 Billion Dollars
LAS VEGAS and NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) — Brightstar Capital Partners ('Brightstar'), a private equity firm focused on investing in business services, industrials, consumer, and government services and technology companies, today announced the closing of its acquisition of PlayAGS, Inc. (NYSE: AGS) ('AGS' or the 'Company'), a global full-service gaming supplier of high-performing slot, table, and interactive products. The transaction was first announced on May 9, 2024. The closing follows approval of the transaction by AGS stockholders and the receipt of all required regulatory approvals. Under the terms of the agreement, AGS stockholders will receive $12.50 per share in cash, valuing the transaction at approximately $1.1 billion. As a result, AGS is now a privately held company, and its common stock will be delisted from the New York Stock Exchange (NYSE). The acquisition comes amid strong growth momentum for AGS. Over the past three years, the Company has more than doubled its global slot unit sales to over 6,100 units, grown online real-money gaming content revenue by over 150%, and increased Table Products revenue by more than 50%—collectively driving three consecutive years of record revenue performance. Powered by strategic investments in R&D and a deep and diverse suite of high-performing products, AGS has become a comprehensive solutions provider across multiple product categories and has a growing global presence both in land-based and online casinos. 'We're excited to join forces with Brightstar, a partnership that marks both a pivotal moment and a transformative new chapter in AGS' growth story,' said David Lopez, CEO & President of AGS. 'With Brightstar as a strategic partner, we believe AGS is in an ideal position to accelerate growth and double-down on delivering focused, high-impact innovation across slots, table products, and online gaming. This partnership sharpens our ability to serve casino operators with differentiated content and solutions built to give them a winning edge.' 'We are thrilled to officially welcome David and the AGS team to Brightstar,' said Andrew Weinberg, Founder, CEO & Co-Chair of Brightstar. 'We believe that AGS' full-spectrum product offering and customer-centric culture set it apart in a growing industry. Our goal is to help the Company expand into new markets and continue to use technology to create exciting games and products.' Macquarie Capital served as financial advisor and Cooley LLP served as legal counsel to AGS. Jefferies LLC served as lead financial advisor to Brightstar. Barclays and Citizens JMP Securities also served as financial advisors to Brightstar. Kirkland & Ellis LLP and Brownstein Hyatt Farber Schreck served as legal counsel to Brightstar. About AGS AGS is a global gaming company dedicated to delivering a diverse mix of entertaining gaming experiences for every kind of player. With a full-spectrum product portfolio spanning slot machines, table products, card shufflers, and online gaming, AGS has grown into one of the industry's most comprehensive gaming suppliers. The Company's customer-centric culture and 'innovation with intent' philosophy fuel continuous development of high-performing products designed to drive customer success and player engagement. AGS' omnichannel strategy – bridging the land-based casino and digital gaming worlds – positions the Company to serve the evolving needs of its casino operator partners around the world. Learn more at . About Brightstar Capital Partners Brightstar Capital Partners is a middle market private equity firm with $5bn AUM that is focused on investing in business services, industrials, consumer, and government services and technology companies, where Brightstar believes it can drive significant value with respect to the management, operations, and strategic direction of the business. Since its founding in 2015, Brightstar has accumulated extensive experience partnering with family, founder, or entrepreneur-led businesses. Brightstar employs an operationally intensive 'Us & Us' approach that leverages its considerable hands-on operational expertise and deep relationship network to help companies reach their full potential. For more information, please visit AGS ContactJulia Boguslawski, Chief Marketing Officer [email protected]
West Australian
30-06-2025
- Business
- West Australian
Aurumin and Brightstar plot WA Sandstone gold mega-merger
In a move that could redefine the landscape in Western Australia's Goldfields, Aurumin Limited and Brightstar Resources have kicked off merger discussions to consolidate their Sandstone grounds into a single, major gold resource. Both companies announced they are progressing a potential scrip-based deal that would see Brightstar acquire Aurumin through a scheme of arrangement. The potential upside from a successful transaction could be considerable. A merged Sandstone project would host a global mineral resource of 2.4 million ounces grading 1.5 grams per tonne (g/t) gold. Under the proposed merger terms, Aurumin shareholders will receive one Brightstar share for every 4.6 Aurumin shares held - implying a value of 11.7 cents per Aurumin share based on Brightstar's recent 20-day volume-weighted average price (VWAP) of 54c. The offer represents a 17 per cent premium to Aurumin's last closing price of 10c per share and a 26 per cent bump on its 20-day VWAP. Apart from the attractive pricing for Aurumin shareholders, the deal offers something arguably more important - consolidation. Bringing the two companies' adjacent tenement portfolios under one roof would eliminate the ownership fragmentation that has long frustrated development in the Sandstone district, 520 kilometres northeast of Perth. The result would be a single, coherent gold development opportunity on granted mining leases with scale, grade and location, enabling the project to fast-track into production. Brightstar would deliver standout assets such as its Lord Nelson and Lord Henry deposits, and the Vanguard and Indomitable Camps, to the merger. The company's global resource sits within 13 deposits and totals 1.553 million ounces running at 1.5g/t gold. Aurumin, meanwhile, would bring the impressive Two Mile Hill underground resource and its 570,000 ounces along for the ride, coupled with a suite of shallow open-pit opportunities, including Shillington and Plum Pudding. Across its 12 deposits, Aurumin's global inventory currently totals 16,000 ounces grading 1.5g/t. Aurumin also holds the keys to a dormant 500,000 tonne-per-annum carbon-in-leach plant. While it hasn't been fired up for a few years, the facility is fully licensed and has permitted tailings storage, a water bore field and an on-site camp. Better yet, it sits on freehold land 12km from the Sandstone township. Notably, nearly all the resources from both companies sit on granted mining leases, providing a solid foundation for mine planning and permitting. The strategic logic of the tie-up has been whispered in the market for some time. Analysts and industry observers have long suggested that the fractured nature of Sandstone's geology and ownership could only be solved through a unifying deal. Today's announcement appears to make that vision a real possibility. Aurumin is keen to point out that although nothing is set in stone just yet, both companies have entered mutual due diligence. The deal is still subject to formal documentation, board approvals and the usual regulatory conditions. If all goes to plan, the proposed merger could create a new mid-tier gold force with the critical mass to attract development funding, accelerate mine builds and explore untapped targets across a vast and underexplored terrain. For now, Brightstar and Aurumin shareholders are likely to watch this space closely. If the stars align, Sandstone's golden potential may finally be unlocked. Is your ASX-listed company doing something interesting? Contact:
Herald Sun
16-06-2025
- Business
- Herald Sun
StockTake: Brightstar Resources
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Stockhead's Tylah Tully looks at the latest from Brightstar Resources (ASX:BTR) and drilling at its Western Australian Sandstone Hub, where new high-grade gold assays from the Musketeer deposit are likely marked for a resource upgrade. Panning of drill spoil from a 1 metre interval returning 356 g/t gold also recovered numerous gold nuggets and coarse visible gold, and results highlight an open span of mineralisation as Brightstar looks towards a much-anticipated pre-feasibility study. Watch the video for more. This video was developed in collaboration with Brightstar Resources, a Stockhead advertiser at the time of publishing. This video does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as StockTake: All for gold and gold for all – BTR's Musketeer drills unearth Sandstone Hub riches
West Australian
15-05-2025
- Business
- West Australian
Brightstar goes again at Second Fortune
Brightstar Resources has begun a second round of ore processing from its Second Fortune underground mine at its Laverton Hub, delivering 55,000t of ore at more than 2g/t gold to Genesis' Laverton mill in WA. The ore parcel includes some feedstock from existing lower-grade stockpiles from the company's Laverton Hub and is processed under an ore purchase agreement (OPA) with ASX-listed Genesis Minerals. Under the OPA, Brightstar will deliver, sell, and process up to 500,000 tonnes of ore through the Laverton Mill from its Laverton Hub throughout this year and into next year's first quarter. Earlier this month, the company executed a A$17.8M revolving stockpile finance facility with specialist mining lender Ocean Partners Australia to bolster its working capital and provide flexibility for production growth at its Laverton gold mining hub. The facility supports Brightstar's present strategy of simultaneously building its current gold production through the OPA, delivering meaningful production growth through development of its Menzies and Laverton gold projects and its aim to rapidly advance its Sandstone gold project. This synchronised regional development profile underpins the company's ambitious target of becoming a consistent 200,000 ounce per year gold producer within the next five years. Additionally, the financial reinforcement provides sufficient ongoing working capital for new developments, one of which is the imminent crank-up of the Fish underground mine production, pencilled-in for the June quarter. Notably, the financing will allow Brightstar to remain unhedged and able to retain full exposure to any gold price upside. With the imminent end of the latest production run, Brightstar expects to see a metallurgical gold reconciliation within the next few weeks. This considers the estimated or modelled grade and dry tonnage of the feedstock, the calculated gold left in the circuit and the refined gold out-turn from the ore parcel. These parameters include feed head-grade and gold recovery and can help with identifying areas of unexpected non-performance, including ore modelling problems, sudden ore-dilution during mining, bad carbon, poor electro-winning and reagent control, amongst others. Brightstar says development is ongoing at the Fish underground which is expected to contribute to future processing campaigns from June. The Fish mine portal was only fired in early April and since then, the decline and its related capital development, such as ventilation, have advanced by 220m, while an underground drill platform is to be set up in the coming weeks to support extensional and infill drilling from underground to test at depth within and below the Fish orebody. The company says its construction of the initial 48-room accommodation camp and ancillary infrastructure, including messing facilities, offices and utilities, is due for completion this month. This will accompany other tasks, including installation of a power station, a fuel bay, a temporary office, explosives magazine and site earth works. Notably, management thinks some of the key capital works relating to site establishment at Fish will ultimately assist development of the company's Lord Byron open pit operation, 7km southwest of Fish. Lord Byron is currently subject to Brightstar's Laverton-Menzies definitive feasibility study which is scheduled to be completed mid-year. The company's definitive feasibility study on its greater Laverton-Menzies development strategy is well advanced, with delivery on track for mid-year. That study is expected to better define Brightstar's path to becoming a significant, multi-mine ASX-listed gold producer. Brightstar has been one of the most active gold juniors on the ASX in recent times with multiple project and corporate acquisitions and now a solid toll treating strategy – all of which may culminate in its broader ambition to become a 200,000 ounce a year listed producer. And if its current pace is anything to go by, that may well occur sooner rather than later. Is your ASX-listed company doing something interesting? Contact:
