The All Ordinaries Index (ASX: XAO) is down 0.4% in morning trade today, but that's not holding back this ASX All Ords gold stock.
The outperforming gold miner in question is Brightstar Resources Ltd (ASX: BTR).
Brightstar shares closed yesterday trading for 39.5 cents. At the time of writing, shares are changing hands for 40 cents apiece, up 1.3%.
This sees the Brightstar Resources share price up an impressive 33.3% since closing at one-year lows of 30 cents on 23 March.
Investors have been bidding up the ASX All Ords gold stock amid recently completed new funding packages and some strong exploratory drilling results.
Here's what's happening today.
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ASX All Ords gold stock lifts on restart progress
Brightstar Resources shares are marching higher following the release of the company's March quarter update (Q3 FY 2026).
Over the three months to 31 March, the ASX All Ords gold stock reported total mining production of 58.7Kt at 3.31g/t Au for 6,250 ounces of gold from its Laverton underground mining operations.
The quarter also saw Brightstar release its Goldfields DFS 2.0, an updated definitive feasibility study for the Goldfields Hub in January.
In line with the DFS 2.0 mine plan, Brightstar's Fish underground gold mine was transitioned to care and maintenance. Mining operations at Fish have ceased, with management expecting the mine will be ready to restart ore production in early calendar year 2027.
According to the miner, the updated Goldfields DFS 2.0 "delivered compelling economics and provides a strong platform for near-term development of 75koz p.a. of gold production with first gold targeted in JunQ'CY27".
Brightstar Resources well-funded for the next phase
The March quarter also saw the ASX All Ords gold stock secure significant new funding.
That included the successful completion of a $193 million capital raise as well as the completion of a US$120 million Senior Secured Nordic Bond.
Management noted:
Equity and bond capital raises together provide Brightstar with over $380 million of funding to finance Goldfields to gold production (targeted JunQ'CY27) while providing substantial capital to Sandstone to advance drilling and feasibility work streams targeting a Sandstone investment decision from early CY27.
Sandstone is one of Brightstar's potentially large-scale developing gold projects.
The ASX All Ords gold stock said it is targeting two Mineral Resource upgrades for Sandstone in 2026, aiming to release a maiden Ore Reserve and PFS in the second half of the calendar year.
"Sandstone continues to demonstrate strong multi-million-ounce growth potential," the miner noted.
As at 31 March, Brightstar Resources had total cash and working capital of $179.3 million.
