Aurumin’s (ASX:AUN) shareholders have approved the proposed merger with Brightstar Resources (ASX:BTR) by way of a court-approved share scheme of arrangement.
The scheme will become effective on 21 November 2025, and Aurumin’s shares are expected to be suspended on the same date. Aurumin will then be removed from the official list of Australian Securities Exchange (ASX).
As Mining.com.au reported, Brightstar will acquire Aurumin for scrip consideration in which shareholders will receive one new Brightstar share for every 4.6 Aurumin shares held. Based on a 20-day volume weighted average price of Brightstar, $0.54 per share, this would imply a volume of $0.117 per Aurumin share.
Both companies have six drill rigs operating in Sandstone, targeting material resource growth and infill drilling key deposits to enable an increase in confidence classification.
A mineral resource upgrade for Sandstone is targeted for release in H1 2026, following exploration drilling over the past 12 months.
Brightstar Managing Director Alex Rovira says upon completion, Brightstar will emerge with a resource of 2.4 million ounces @ 1.5 grams per tonne gold at the Sandstone Gold Project.
“Notably, we see significant potential for mineral resource growth following the 70,000m of drilling already completed in Sandstone by Brightstar, with a targeted 120,000m of drilling planned for completion prior to the Prefeasibility Study targeted for release in mid-2026,” Rovira says.
“In our view, the Sandstone district potentially represents one of the largest undeveloped gold projects in the Western Australia goldfields in the hands of a junior/emerging company, with the potential for a multi-decade mine life across both open-pit and underground operations.”
The Sandstone Hub is located in the Sandstone Greenstone Belt in Western Australia.
Brightstar Resources is a Western Australian gold producer focused on its portfolio of assets in the northern goldfields region.
Aurumin is Western Australian explorer and developer focused on gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Brightstar Resources & Aurumin
