Aquirian Limited (ASX:AQN) Mobilises to Brightstar's Lord Byron Site on a $48M, Three-Year Contract

Sonal Goyal

28 October 2026 01:08 PM AEDT

Aquirian Limited (ASX:AQN) Mobilises to Brightstar's Lord Byron Site on a $48M, Three-Year Contract

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Key Highlights

Aquirian has started site mobilisation for the Lord Byron contract with Brightstar Resources, valued at approximately $48 million over three years.
An initial grade control drilling program has commenced with an incremental contract value of about $200,000.
The awards sit under the Strategic Framework Agreement covering Brightstar's Goldfields Hub.
Personnel and equipment have been deployed to support Brightstar's resource definition activities.

Aquirian Limited (ASX:AQN) has started mobilising to the Lord Byron site and has been awarded an initial grade control drilling program by Brightstar Resources Limited (ASX:BTR). The mobilisation marks the start of Aquirian's Lord Byron contract, which is valued at approximately $48 million over a three-year term under a Strategic Framework Agreement (SFA) covering Brightstar's Goldfields Hub. The company announced both developments on 28 October 2026.

Mobilisation Begins Under the Framework Agreement

Site mobilisation to Lord Byron is the first operational step of the contract Aquirian holds with Brightstar. The agreement is valued at about $48 million across three years and is structured under the SFA, which relates to Brightstar's Goldfields Hub. Aquirian described the commencement of mobilisation as the point at which the Lord Byron work formally starts, with personnel and equipment now moving to the site for Brightstar's Goldfields Hub operations.

The company's announcement included photographs of the Drillforce LV rig arriving at Brightstar's operations and of the grade control operation at Lord Byron, showing equipment already on site. Aquirian describes itself as a technology-led mining services company that provides drill and blast solutions, with operating units covering energetics, technology and people.

Managing Director Greg Patching said the company would carry out the work safely while it ramps up its drill and blast operations over the coming weeks. That ramp-up follows the mobilisation described in the announcement and is separate from the grade control program.

Initial Grade Control Program

Alongside the mobilisation, Aquirian has been awarded an initial grade control drilling program, which has already commenced. It carries an incremental contract value of approximately $200,000 under the SFA. Personnel and equipment have been deployed to the site to support Brightstar's resource definition activities.

The award is described as adjacent and incremental to the main contract. It adds to the scope previously announced under Aquirian's SFA with Brightstar, rather than replacing any part of the roughly $48 million Lord Byron agreement. Mr Patching characterised the program as relatively modest in size, while noting that it provides additional revenue within the framework arrangement.

The $200,000 value is small beside the $48 million headline figure, equal to less than half of one percent of the three-year contract value. The company's statement presents the grade control work as part of a partnership approach with Brightstar, in which separate work packages are added under the same framework agreement. Mr Patching said the company looks forward to executing the program safely and described the arrangement as a strategic partnership model.

What the Announcement Confirms

Three points in the announcement are stated directly. First, mobilisation to Lord Byron has begun. Second, the contract with Brightstar is valued at approximately $48 million over three years. Third, an initial grade control program worth about $200,000 has started and is paid for under the same SFA.

Aquirian also noted that the award underscores the potential for further revenue growth. The statement does not set out the timing or value of any additional work, and it does not give a start date for full drill and blast operations beyond the reference to the coming weeks. The announcement was approved for release by Managing Director Greg Patching, with company enquiries directed to him and to Chief Financial Officer Susan Cameron, both reachable at the Perth office on St Georges Terrace.

Closing Position for Aquirian

Aquirian's Lord Byron work has moved from contract award to site activity, with equipment on location, a roughly $48 million three-year agreement in place and a $200,000 grade control program underway for Brightstar.

FAQs

Q: What is the value of Aquirian's Lord Byron contract?

A: The contract with Brightstar Resources is valued at approximately $48 million over a three-year term. It sits under a Strategic Framework Agreement for Brightstar's Goldfields Hub.

Q: What is the new grade control program worth?

A: The initial grade control drilling program has an incremental contract value of about $200,000 under the SFA. It has already commenced.

Q: Who is the client at Lord Byron?

A: The client is Brightstar Resources Limited (ASX:BTR). Aquirian's equipment and personnel support Brightstar's resource definition activities.

Q: What did Aquirian's Managing Director say about the program?

A: Greg Patching called the program relatively modest but said it provides adjacent and incremental revenue under the SFA. He said drill and blast operations will ramp up in the coming weeks.

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