The All Ordinaries Index (ASX: XAO) is down 0.2% in morning trade today, but don't blame this outperforming ASX All Ords gold stock.
The brightly shining gold miner in question is Brightstar Resources Ltd (ASX: BTR).
Brightstar shares closed yesterday trading for 30 cents. In late-morning trade on Thursday, shares are changing hands at 31 cents apiece, up 3.3%.
That sees shares in the ASX All Ords gold stock up 10.7% since last Thursday's close.
Here's what's catching investor interest today.
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ASX All Ords gold stock jumps on progress report
Brightstar shares are charging higher today following a progress update at the company's 100%-owned Goldfields Project, located in Western Australia.
On completion, the ASX All Ords gold stock expects that Goldfields will produce an average of approximately 75,000 ounces of gold per year over an initial six-year mine life. Brightstar is also aiming to extend that mine life across its broader Goldfields portfolio.
Today, the company confirmed that earthworks are advancing on site for the construction of its 1.5 million tonne per annum (Mtpa) processing plant.
In what the miner labelled a "material project kick-off milestone", the first concrete was poured for Carbon-in-Leach (CIL) tank footings ahead of schedule.
Brightstar also revealed that it plans to commence open-pit mining activities at Lord Byron, situated within the Goldfields Project, later in calendar year 2026. That will help the miner build ore stockpiles ahead of mill commissioning, expected in the June quarter of 2027.
Processing stockpiles also continued to build from ongoing high-grade ore mining at Brightstar's Second Fortune underground mine.
What did Brightstar Resources management say?
Commenting on the progress helping boost the ASX All Ords gold stock today, Brightstar managing director Alex Rovira said, "Construction activities at our Goldfields Project continue to progress on time and on budget, with the Project remaining on track to achieve first gold in June 2027."
He added, "This progress underscores the strong execution capabilities of the Brightstar team and our EPC partner, GR Engineering Services Ltd (ASX: GNG)."
Brightstar also reported that it has bought Put Options covering 60,000 ounces of gold production during the first 24 months of production. Those options are exercisable at AU$5,809 per ounce (around US$4,000 per ounce), with Brightstar retaining full exposure to any gold price upside.
Rovira noted:
We have further de-risked our planned production ramp-up period through the purchase of deferred premium put options covering 60,000 ounces of production to protect early revenues and provide a floor price while maintaining full gold price exposure to the upside.
