BRIGHTSTAR RESOURCES LIMITED — Capital/Financing Update 2020

Jun 28, 2020

==> picture [464 x 84] intentionally omitted <==

**29

June
2020**

**DECA

extended
as
Stone
Resources
Australia
Limited
pursues
recapitalisation
opportunities**

Stone
Resources
Australia
Limited
(ASX:
SHK)
(SRAL
or
the
Company)
has
today
executed
a
deed
of variation
that
extends
the
term
of
the
Debt
and
Equity
Compromise
Agreement
( DECA )
(previously announced
to
ASX
on
25
March
2020)
with
its
major
shareholders,
Stone
Resources
Limited
(a company
incorporated
in
Bermuda),
and
Stone
Resources
(HK)
Limited
(a
company
incorporated
in Hong
Kong).

The
deed
of
variation
extends
the
term
of
the
DECA
from
30
June
2020
to
30
September
2020.
The provisions
of
the
DECA
otherwise
remain
the
same.

Extension
of
the
DECA
provides
SRAL
with
a
timeframe
to
explore
new
opportunities
for recapitalisation
through
divestment
of
its
North
Brightstar
project
with
the
support
of
its
major shareholders
in
accordance
with
the
recapitalisation
strategy
announced
on
25
March
2020.

**CAUTIONARY

NOTE
REGARDING
FORWARD-­‐LOOKING
INFORMATION**

This
Announcement
contains
forward-­‐looking
statements
and
forward-­‐looking
information
within the
meaning
of
applicable
Australian
securities
laws,
which
are
based
on
expectations,
estimates
and projections
as
of
the
date
of
this
Announcement.

This
forward-­‐looking
information
includes,
or
may
be
based
upon,
without
limitation,
estimates, forecasts
and
statements
as
to
management’s
expectations
with
respect
to,
among
other
things,
the timing
and
amount
of
funding
required
to
execute
the
Company’s
exploration,
development
and business
plans,
capital
and
exploration
expenditures,
the
effect
on
the
Company
of
any
changes
to existing
legislation
or
policy,
government
regulation
of
mining
operations,
the
length
of
time required
to
obtain
permits,
certifications
and
approvals,
the
success
of
exploration,
development and
mining
activities,
the
geology
of
the
Company’s
properties,
environmental
risks,
the
availability of
labour,
the
focus
of
the
Company
in
the
future,
demand
and
market
outlook
for
precious
metals and
the
prices
thereof,
progress
in
development
of
mineral
properties,
the
Company’s
ability
to
raise funding
privately
or
on
a
public
market
in
the
future,
the
Company’s
future
growth,
results
of operations,
performance,
and
business
prospects
and
opportunities.
Wherever
possible,
words
such as
“anticipate”,
“believe”,
“expect”,
“intend”,
“may”
and
similar
expressions
have
been
used
to identify
such
forward-­‐looking
information.

3/25 Belgravia Street Belmont WA 6104 Telephone: (618) 9277 6008 Facsimile: (618) 9277 6002 Email: info@stoneral.com.au Website: www. stoneral.com.au ABN 44 100 727 491 ASX Code: SHK Member of AMEC

Forward-­‐looking
information
is
based
on
the
opinions
and
estimates
of
management
at
the
date
the information
is
given,
and
on
information
available
to
management
at
such
time.
Forward
looking information
involves
significant
risks,
uncertainties,
assumptions
and
other
factors
that
could
cause actual
results,
performance
or
achievements
to
differ
materially
from
the
results
discussed
or implied
in
the
forward-­‐looking
information.
These
factors,
including,
but
not
limited
to,
fluctuations in
currency
markets,
fluctuations
in
commodity
prices,
the
ability
of
the
Company
to
access
sufficient capital
on
favourable
terms
or
at
all,
changes
in
national
and
local
government
legislation,
taxation, controls,
regulations,
political
or
economic
developments
in
Indonesia
and
Australia
or
other countries
in
which
the
Company
does
business
or
may
carry
on
business
in
the
future,
operational
or technical
difficulties
in
connection
with
exploration
or
development
activities,
employee
relations, the
speculative
nature
of
mineral
exploration
and
development,
obtaining
necessary
licenses
and permits,
diminishing
quantities
and
grades
of
mineral
reserves,
contests
over
title
to
properties, especially
title
to
undeveloped
properties,
the
inherent
risks
involved
in
the
exploration
and development
of
mineral
properties,
the
uncertainties
involved
in
interpreting
drill
results
and
other geological
data,
environmental
hazards,
industrial
accidents,
unusual
or
unexpected
formations, pressures,
cave-­‐ins
and
flooding,
limitations
of
insurance
coverage
and
the
possibility
of
project
cost overruns
or
unanticipated
costs
and
expenses,
and
should
be
considered
carefully.
Many
of
these uncertainties
and
contingencies
can
affect
the
Company’s
actual
results
and
could
cause
actual results
to
differ
materially
from
those
expressed
or
implied
in
any
forward-­‐looking
statements
made by,
or
on
behalf
of,
the
Company.
Prospective
investors
should
not
place
undue
reliance
on
any forward-­‐looking
information.

Although
the
forward-­‐looking
information
contained
in
this
Announcement
is
based
upon
what management
believes,
or
believed
at
the
time,
to
be
reasonable
assumptions,
the
Company
cannot assure
prospective
purchasers
that
actual
results
will
be
consistent
with
such
forward-­‐looking information,
as
there
may
be
other
factors
that
cause
results
not
to
be
as
anticipated,
estimated
or intended,
and
neither
the
Company
nor
any
other
person
assumes
responsibility
for
the
accuracy and
completeness
of
any
such
forward-­‐looking
information.
The
Company
does
not
undertake,
and assumes
no
obligation,
to
update
or
revise
any
such
forward-­‐looking
statements
or
forward-­‐looking information
contained
herein
to
reflect
new
events
or
circumstances,
except
as
may
be
required
by law.

No
stock
exchange,
regulation
services
provider,
securities
commission
or
other
regulatory
authority has
approved
or
disapproved
the
information
contained
in
this
Announcement

Enquiries

William
Hobba
I
Non
Executive
Director
I
Phone:
(618)
9277
6008
I
Email: miningservicesA1@bigpond.com

Tony
Lau
I
Joint
Company
Secretary
I
Phone:
(852)
2115
6324
I
Email: tonylau@stone.com.hk

3/25 Belgravia Street Belmont WA 6104 Telephone: (618) 9277 6008 Facsimile: (618) 9277 6002 Email: info@stoneral.com.au Website: www. stoneral.com.au ABN 44 100 727 491 ASX Code: SHK Member of AMEC