Aquirian Locks in $48M Drilling Contract With Door to Two More Major Sites
Aquirian secures $48 million Lord Byron drilling contract with Brightstar Resources
Aquirian has secured a $48 million drilling and energetics services contract with Brightstar Resources for the Lord Byron open pit mine in Laverton, Western Australia. The three-year agreement, commencing 1 September 2026, represents the second major long-term technology-led contract for Aquirian’s Drillforce subsidiary, following the Mt Ida Gold agreement announced in January 2025.
The Lord Byron contract sits within a broader five-year Strategic Framework Agreement (SFA) with Brightstar, positioning Aquirian to deliver services across Brightstar’s entire Goldfields Hub operations. The contract requires approximately $6 million in assets, with Aquirian already owning roughly 75% of the required equipment, including two T45 drill rigs and site reload facility infrastructure.
Key Contract Terms:
- Contract value: ~$48 million projected revenue
- Term: 3 years from 1 September 2026
- Services: Drilling and blasting using Aquirian technology, energetics supply and logistics (including storage and reload facilities), and related support services
- Asset requirements: ~$6 million, with ~75% already owned by Aquirian
- Funding: Remaining ~25% of assets to be funded through cash and existing debt facilities
When big ASX news breaks, our subscribers know first
What is a Strategic Framework Agreement in mining services?
A Strategic Framework Agreement in the mining services sector is a master contract that establishes the commercial terms, service levels, and operational framework for multiple potential site-level contracts under one governing agreement. Rather than negotiating separate agreements for each project, the SFA creates a pathway for individual supply agreements to be executed within pre-agreed parameters.
For Aquirian, the SFA with Brightstar provides contractual optionality for future revenue without requiring fresh negotiations for each site within Brightstar’s Goldfields Hub. The five-year initial term, with extension options of 2+2+1 years, creates long-duration revenue potential across multiple mining locations. The agreement is conditional on Brightstar making a final investment decision to proceed with development, construction, or operation of its Goldfields Hub.
The SFA covers three Goldfields Hub sites:
- Lord Byron, Laverton – contract now secured
- Cork Tree Well, Laverton – potential future contract site
- Lady Shenton, Menzies – potential future contract site
The Lord Byron agreement represents the first site-level contract executed under the SFA framework. Each site is expected to share similar scale and operational metrics, subject to final mining plans, creating embedded pipeline potential for additional contracts.
Aquirian’s technology package drives the partnership
Aquirian’s vertically integrated service model combines Drillforce’s drilling capabilities with the company’s energetics supply, logistics infrastructure, and technical support. The offering centres on Aquirian’s patented Collar Keeper® automated systems, which enable in-cab operation to reduce personal risk for drill operators. Services encompass drilling and blasting execution, energetics supply and logistics (including storage and reload facilities), resourcing, training, and technical services.
The contract leverages existing assets, with Aquirian already owning two T45 drill rigs and site reload facility equipment, representing approximately 75% of the total $6 million asset requirement. This technology-differentiated approach supports pricing power and customer retention by delivering outcomes aligned with mining operators’ priorities: optimised fragmentation, streamlined material flows, and improved ore recovery.
Greg Patching, Managing Director, Aquirian
“Through this collaborative partnership, we will deliver a unique technology package via Drillforce, utilising our patented automated Collar Keeper® systems. Our vertically integrated model to Brightstar includes our Energetics package, support for resourcing, training and technical services which showcases our service capability. Our offering is aligned with Brightstar’s values, encompassing lowering personal risk through our ‘in-cab’ operation, maximising ore recovery and optimised fragmentation for streamlined material flows through to processing.”
Alignment with Brightstar’s operational priorities
From Brightstar’s perspective, the partnership with Aquirian supports the mining company’s focus on whole-of-mine optimisation and data-driven execution. Precision in drilling and blasting outcomes directly influences downstream productivity, cost efficiency, and consistent ore delivery to processing facilities. Aquirian’s emphasis on safety performance, through automated in-cab operation, aligns with Brightstar’s risk management framework.
The technology-led approach is expected to contribute to improved blast performance, optimised material movement, and disciplined cost control—factors that Brightstar’s management views as key drivers of sustainable production and margin performance across its operations.
Alex Rovira, Managing Director, Brightstar Resources
“Aquirian’s vertically integrated and technically differentiated service offering aligns strongly with Brightstar’s focus on whole-of-mine optimisation, ensuring that drilling and blasting outcomes support improved productivity, cost efficiency and consistent ore delivery. Importantly, Aquirian’s emphasis on precision, data-driven execution and safety performance is expected to support improved blast performance, optimise material movement and contribute to disciplined cost control, which are key drivers of sustainable production and margin performance to maximise value across our operations.”
What this means for Aquirian’s growth trajectory
The Lord Byron contract validates Aquirian’s market strategy of targeting technology-led long-term agreements in the mining services sector. With the Mt Ida Gold contract announced in January 2025 serving as the first proof point, the Brightstar agreement represents the second major long-term contract secured in 15 months, demonstrating commercial traction for the company’s differentiated technology model.
The SFA structure creates an embedded pipeline of potential future contracts at Cork Tree Well and Lady Shenton without additional business development costs. This framework positions Aquirian to expand services across Brightstar’s Goldfields Hub as each site progresses through final investment decision and development phases. The funding approach for remaining assets—utilising cash and existing debt facilities for approximately 25% of the $6 million requirement—reflects low incremental capital outlay given the company’s existing asset ownership.
| Element | Detail |
|---|---|
| Contract Value | ~$48 million |
| Term | 3 years from 1 September 2026 |
| SFA Duration | 5 years + extension options (2+2+1 years) |
| Additional Sites | Cork Tree Well, Lady Shenton |
| Asset Investment | ~$6 million (~75% owned) |
The next major ASX story will hit our subscribers first
Next steps and timeline
Services under the Lord Byron contract are scheduled to commence 1 September 2026, providing a clear near-term catalyst for revenue generation. The SFA remains conditional on Brightstar making a final investment decision to proceed with development, construction, or operation of its Goldfields Hub, representing a key watch item for investors monitoring contract progression.
Extension options embedded in the five-year SFA structure provide potential for longer-term contract duration through 2+2+1 year renewal periods, subject to mutual agreement between the parties.
Key Milestones:
- 1 September 2026: Lord Byron contract services commence
- Five-year SFA term: Initial framework period for Goldfields Hub contracts
- Extension options: Potential 2+2+1 year renewal periods beyond initial term
- Conditional trigger: Brightstar final investment decision required for Goldfields Hub development
Want the Next Mining Services Winner in Your Inbox?
Join 20,000+ investors getting FREE breaking ASX news delivered within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Big News Blast to receive real-time alerts covering Tech, Healthcare, Finance, Manufacturing, and Consumer sectors the moment market-moving announcements break.