High-Tech Metals and Forrestania Resources have signed a binding ore purchase agreement concerning gold-bearing ore from the Mt Fisher Gold Project located in Western Australia.
The arrangement allows Forrestania to acquire up to 400,000 tonnes (t) of ore over 24 months, with pricing to be determined by ore grade, metallurgical recovery rates and the current gold price.
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High-Tech Metals will be responsible for organising and funding the transport of ore to the Forrestania processing facility.
The agreement introduces a commercial pathway for Mt Fisher’s eligible ore, giving High-Tech Metals an option to process material without investing in its own processing infrastructure.
The commercial terms include the payment of a one-off A$50,000 ($35,192.4) access fee by High-Tech Metals and establish a formula linking payment to the grade of the ore and gold price, allowing for up to a 91% recovery rate.
This contract stipulates minimum and maximum shipment sizes and does not set any conditions precedent.
High-Tech Metals has not declared an ore reserve for Mt Fisher and is yet to make a decision to commence mining.
Any mining and ore delivery will require further technical and economic assessments, agreement on delivery schedules, and regulatory approvals.
High-Tech executive director Cristian Moreno said: “The Ore Purchase Agreement with Forrestania establishes a commercial framework for the sale and processing of eligible ore from Mt Fisher.
“Access to existing processing infrastructure provides another pathway for HTM to assess the value of its gold assets without the capital requirements of a standalone processing facility.”
Under the contract, if Forrestania or a related entity obtains access to a closer processing facility, deliveries could be redirected, subject to notice provisions, while the original terms remain in force.
Ore already delivered or in transit would still be processed at the initial facility.
The deal excludes the Wagtail Gold Project, covered by a separate mining and profit share agreement with SSH Mining Australia.
The company plans further operational and technical assessments to determine material eligible under the new agreement, though no timeline for deliveries has been specified.
