Brightstar Resources Limited has declared its maiden underground ore reserves at its two operating Laverton mines – Second Fortune and Fish – a milestone that underpins the company’s scheduled FY26 production under a binding ore purchase agreement with Genesis Minerals. The quantified reserves total around 227 kilotonnes averaging 3.24 grams per tonne gold, with Second Fortune contributing approximately 52 kilotonnes at 3.36 g/t (around 6,000 ounces) and Fish contributing roughly 175 kilotonnes at 3.23 g/t (about 18,000 ounces). These figures provide a solid production base and come on the back of recent upgrades to the Mineral Resource Estimates, which have further refined the geological understanding of the deposits. The technical details reveal that both underground operations are based on conventional narrow-vein longhole open stoping methods, with cut-off grades determined at a gold price of A$3,500 per ounce. For Second Fortune, a break-even cut-off grade of about 2.5 g/t is applied while Fish uses a finalized cut-off of 3.1 g/t, with both operations targeting process recoveries of approximately 94%. Operational aspects such as diluted ore recovery, planned split-firing of ore drives at Second Fortune, and the extensive use of diamond drilling to support ongoing exploration and resource definition further bolster confidence in the project’s technical and financial profiles. The announcement also emphasizes significant exploration upside. Both Second Fortune and Fish remain open along strike and at depth, which suggests further drilling could extend mine life and increase overall reserves. With all necessary capital expenditure now committed at Fish and first ore already expected imminently, these projects are well-positioned to generate cash flow within the September quarter. Additionally, the upcoming definitive feasibility study on the broader production profile—including development of the Laverton, Menzies, and Sandstone hubs—will likely further refine economic projections. Sentiment surrounding this news is mixed yet cautiously optimistic. On the bullish side, the robust technical framework, proven mine design, and binding of production through the ore purchase agreement instill confidence in the sustainability of production and potential for further resource expansion. Moreover, the focus on high-margin, higher-grade ore enhances profit potential amid steady gold prices. However, bearish considerations include the inherent risks of underground operations such as dilution and ore recovery uncertainties, as well as future capital requirements and reliance on external factors like the upcoming feasibility study’s findings. Overall, these detailed technical and operational insights suggest a solid foundation for future production growth, while some inherent mining risks remain to be managed over the coming periods.