The All Ordinaries Index (ASX: XAO) is down 0.1% today, but don't blame this rocketing ASX All Ords gold stock.
The fast-rising Aussie gold miner in question is Brightstar Resources Ltd (ASX: BTR).
Brightstar shares closed yesterday trading for 54.5 cents. In late morning trade on Thursday, shares are changing hands for 64.0 cents apiece, up 17.4%.
Here's what's catching investor interest today.
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ASX All Ords gold stock surges on production update
Brightstar shares are shining bright today after the ASX All Ords gold stock released a promising production update.
The miner reported that ore processing has now commenced for the second processing campaign under the Ore Purchase Agreement it has with Genesis Minerals Ltd (ASX: GMD).
That's expected to conclude later this month.
Brightstar has now delivered 55,000 tonnes of total ore at 2 grams of gold per tonne to the Genesis Minerals' Laverton Mill ROM pad for processing in the May parcel.
The ore was sourced from Brightstar's high-grade Second Fortune underground mine alongside existing lower-grade stockpiles from its Laverton Hub.
The company said that mining continues at its Fish underground mine, with management expecting the gold mine to be a contributor to future processing campaigns starting in June.
Also likely spurring investor interest in the All Ords ASX gold stock today, the miner said its consolidated Laverton and Menzies Definitive Feasibility Study (DFS) is almost done, with delivery target in the second half of calendar year 2025.
The DFS underpins Brightstar's goal of producing 200,000-plus ounces of gold per year within five years. The miner is preparing to mobilise three more drill rigs for extensional drilling across Menzies, Laverton, and Sandstone in the coming weeks.
Under the OPA with Genesis, Brightstar will deliver, sell, and process up to 500,000 tonnes of ore through the Laverton Mill from its Laverton Hub across 2025 and into the first quarter of calendar year 2026.
What did management say?
Commenting on the progress boosting the ASX All Ords gold stock today, Brightstar managing director Alex Rovira said, "It is great to see the commencement of processing for the second parcel of ore under our Ore Purchase Agreement with Genesis."
Rovira added:
Mining operations at Second Fortune continue to ramp up successfully following the resumption of stoping in December, successfully delivering high-grade tonnes into the OPA.
The Fish underground mine is advancing well, with mining of first ore on track for June which is set to add high-grade Fish tonnes into future processing campaigns under the OPA.
Turning to the company's finances, Rovira said:
Brightstar has been undertaking a debt financing process with the Company engaging with a number of 'Big 4' domestic banks and non-bank natural resource specialist financers for the financing of the Menzies and Laverton operations, with demonstrable support indicating a strongly financeable project.
Rovira concluded:
With ongoing gold production and cash flow, a second high-grade gold mine coming into first ore shortly, a DFS nearing completion and multiple drilling rigs in the field ramping up exploration, it's an exciting time for Brightstar as we advance our portfolio of projects across the WA goldfields.
With today's intraday gains factored in, shares in the ASX All Ords gold stock are up 49% since this time last year.
