Aquirian Locks in $48M Drilling Contract With Path to Two More Gold Mine Sites
Aquirian secures $48 million Lord Byron drilling contract with Brightstar Resources
Aquirian Limited has announced its wholly owned subsidiary Drillforce WA has been awarded a three-year drilling and energetics supply agreement with Brightstar Resources for the Lord Byron open pit gold mine in Laverton, Western Australia. The contract carries projected revenue of approximately $48 million and is scheduled to commence on 1 September 2026.
This marks Aquirian’s second long-term technology-led mining services agreement, following the Mt Ida Gold contract secured in January 2025. The Lord Byron agreement sits within a broader Strategic Framework Agreement (SFA) with Brightstar covering the company’s entire Goldfields Hub operations.
Aquirian already owns approximately 75% of the required assets, including two T45 drill rigs and site reload facility equipment, with the balance of the $6 million total asset requirement to be funded through cash and existing debt facilities.
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What is a Strategic Framework Agreement in mining services?
A Strategic Framework Agreement establishes the master commercial framework governing the relationship between a mining services provider and a mining company across multiple sites. Individual site agreements, such as the Lord Byron contract, are then executed under this overarching structure, creating operational consistency and commercial certainty for both parties.
The SFA between Aquirian and Brightstar provides service level commitments and contractual terms that will apply to each of Brightstar’s Goldfields Hub sites as they progress towards development. For investors, this structure signals potential for expanded contract scope beyond the initial Lord Byron agreement as additional sites move into production, creating a pathway to revenue growth without requiring entirely new commercial negotiations for each location.
The agreement remains conditional on Brightstar making a final investment decision to proceed with development, construction and operation of its Goldfields Hub operations.
Scope of services and Aquirian’s technology advantage
The Lord Byron contract encompasses drilling and blasting services using Aquirian’s patented Collar Keeper automated systems, energetics supply and logistics (including storage and reload facilities), and related technical support services. Aquirian’s vertically integrated model combines proprietary technology, energetics supply, personnel support, and training services under a single contract structure.
The company’s approach centres on in-cab operation of its automated systems, reducing personnel exposure to blast zones whilst targeting optimised fragmentation for improved ore recovery and processing efficiency. This technology differentiation forms the commercial foundation for securing multi-year agreements with ASX-listed gold producers.
With two T45 drill rigs and site reload facility equipment already in its fleet, Aquirian requires approximately $6 million in total assets to service the contract, with around 75% of this already owned. The balance will be funded through cash and existing debt facilities, limiting incremental capital expenditure relative to the $48 million revenue opportunity.
Key service components:
- Drilling and blasting using patented Collar Keeper automated systems
- Energetics supply and logistics management
- Storage and reload facilities
- Technical services and support
- Personnel resourcing and training
Goldfields Hub expansion potential
The Strategic Framework Agreement covers Brightstar’s entire Goldfields Hub, comprising three proposed open pit mine sites: Lord Byron in Laverton, Cork Tree Well in Laverton, and Lady Shenton in Menzies. The SFA carries an initial five-year term with extension options of two plus two plus one year on a mutual basis.
Each site is expected to share similar scale and operational metrics, subject to final mining plans developed by Brightstar. The Lord Byron agreement represents the first site-specific contract executed under the SFA, with potential for additional agreements as Brightstar progresses development decisions on Cork Tree Well and Lady Shenton.
If Brightstar proceeds with all three Goldfields Hub sites under similar commercial terms, the total contract value to Aquirian could expand significantly beyond the initial $48 million Lord Byron commitment, providing material revenue visibility over the SFA’s term.
| Site | Location | Status | SFA Coverage |
|---|---|---|---|
| Lord Byron | Laverton | Agreement executed | Yes |
| Cork Tree Well | Laverton | Future potential | Yes |
| Lady Shenton | Menzies | Future potential | Yes |
Management commentary on the partnership
Greg Patching, Managing Director
“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.”
Patching emphasised that Aquirian’s offering aligns with Brightstar’s values, encompassing lowering personal risk through in-cab operation, maximising ore recovery and optimised fragmentation for streamlined material flows through to processing.
Brightstar Managing Director Alex Rovira stated the partnership supports the company’s focus on whole-of-mine optimisation, ensuring drilling and blasting outcomes contribute to improved productivity, cost efficiency and consistent ore delivery. Rovira highlighted that 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 across Brightstar’s operations.
The partnership structure creates mutual benefits: Aquirian gains multi-year contract certainty and potential for scope expansion, whilst Brightstar secures integrated, technology-led drill and blast services from a single provider.
What this means for Aquirian’s growth trajectory
The Brightstar agreement represents the second major long-term contract Aquirian has secured following the Mt Ida Gold agreement announced in January 2025. A pattern is emerging where the company successfully converts its technology differentiation into multi-year revenue commitments with established gold producers.
The capital efficiency of the Lord Byron contract is notable. With approximately 75% of required assets already owned, Aquirian faces limited incremental capital expenditure to service a contract carrying $48 million in projected revenue over three years. The $6 million total asset requirement, with the balance funded through cash and existing debt facilities, demonstrates favourable capital deployment relative to the revenue opportunity.
This capital-light expansion supports margin preservation whilst scaling the business through technology-led services rather than asset-heavy contracting models common in traditional mining services.
Aquirian’s contract milestones:
- January 2025: Secured Mt Ida Gold long-term technology-led agreement
- April 2026: Executed Strategic Framework Agreement with Brightstar Resources
- April 2026: Secured Lord Byron supply agreement (first site under SFA)
- Future potential: Cork Tree Well and Lady Shenton agreements under existing SFA framework
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Next steps and timeline
The Lord Byron contract commences on 1 September 2026, providing Aquirian with a clear operational timeline to mobilise assets and personnel. The Strategic Framework Agreement remains conditional on Brightstar making a final investment decision for the broader Goldfields Hub development.
As Cork Tree Well and Lady Shenton progress through Brightstar’s development pipeline, investors should monitor announcements regarding final investment decisions on these sites as potential catalysts for expanded Aquirian contract scope under the existing SFA framework. The five-year initial term, with extension options of two plus two plus one year, provides long-term visibility on the commercial relationship.
Brightstar’s development decisions on the remaining Goldfields Hub sites represent the key variable determining whether the Aquirian partnership expands beyond the initial $48 million Lord Byron commitment towards a multi-site, multi-year service relationship across Brightstar’s Western Australian gold operations.
Ready to Learn More About Aquirian’s Contract Pipeline?
With a second major long-term agreement secured and potential for further expansion across Brightstar’s Goldfields Hub sites, Aquirian’s technology-led growth strategy is taking shape. The company’s capital-efficient model and proven ability to convert proprietary systems into multi-year revenue commitments warrant closer examination.
To explore Aquirian’s full contract portfolio and operational updates, visit the Aquirian investor centre for comprehensive company analysis and announcements. Stay informed as the Brightstar partnership develops and additional site agreements potentially materialise under the Strategic Framework Agreement.