Gateway Mining Seals $14M Deal with Brightstar

Brightstar Resources Limited (AU:BTR) has released an update.

Gateway Mining Limited has finalized the sale of its gold rights at Montague East to Brightstar Resources for $14 million, comprising $5 million in cash and $8.4 million in shares, with an additional $2 million in shares contingent on project milestones. This strategic transaction has bolstered Gateway’s balance sheet, enabling a sharpened focus on its core exploration activities. Concurrently, the company undergoes a leadership shift, with Managing Director Mark Cossom stepping down to assume a strategic consulting role, while Peter Langworthy transitions to Executive Chair.

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