Australia's Brightstar Resources hits more than 1-month low on discounted placement

By Reuters News01:16 (UTC), 27 October 2026 Updated

** Shares of Brightstar Resources BTR.AX fall as much as 9.7% to A$0.510, their lowest level since September 11

** Gold miner receives binding commitments to raise A$82 million ($57.55 million) via a single-tranche placement at an issue price of A$0.50 per share

** Issue price represents an 11.5% discount to the stock's last closing price on October 22

** Says proceeds will fund an accelerated work program at its Sandstone Gold Project in Western Australia

** YTD, stock up 5.1%, including the session's moves

($1 = 1.4249 Australian dollars)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.