High-Tech Metals (ASX: HTM) Signs Mt Fisher Ore Purchase Deal

High-Tech Metals has secured a potential processing route for gold-bearing material from its Mt Fisher project in Western Australia through a binding ore purchase agreement with Forrestania Resources.

The agreement allows Forrestania to buy up to 400,000 tonnes of eligible material over an initial 24-month term for processing at a nominated facility. It gives High-Tech a way to assess potential production without funding construction of a standalone processing plant.

However, the 400,000-tonne cap is a contractual maximum rather than a production target. The agreement provides processing access but does not itself commit either party to a defined production volume.

Pricing tied to grade, recovery and gold

The purchase price will be calculated using the grade of High-Tech’s material, metallurgical recovery and the prevailing gold price, together with processing costs and charges. The formula incorporates a base grade of 1.45 grams per tonne of gold, a maximum recovery of 91% and a treatment charge.

High-Tech must arrange and fund haulage from the Mt Fisher run-of-mine pad to the processing facility. It will also pay a one-off plant access fee of A$50,000. The company said the structure means it will not have to fund all processing costs upfront.

The agreement has no conditions precedent. It also allows future deliveries to be redirected if Forrestania or a related entity obtains access to a closer processing facility. High-Tech can elect to continue using the existing facility, while its commercial terms remain protected under the agreement.

High-Tech will now assess the characteristics, grade and metallurgical performance of potentially eligible material, alongside logistics and campaign scheduling. The timing and scale of any deliveries will depend on the availability and suitability of material and operating schedules.

Wagtail remains under separate structure

The agreement excludes the Wagtail Gold Project, which is covered by a separate mining and profit-share arrangement with SSH Mining Australia. SSH is funding pre-feasibility work and associated drilling, and would receive 25% of net project profits if mining proceeds, leaving High-Tech with 75%.

High-Tech has separately given notice to terminate an earlier stockpiled ore joint venture with SSH Mining, effective 27 November 2026. That arrangement covered evaluation, loading and haulage of Mt Fisher stockpiles in return for 15% of project profit.

High-Tech reported A$8.9 million in cash and a market capitalisation of about A$26 million. Its Mt Fisher and Mt Eureka portfolio contains a stated Mineral Resource of 202,000 ounces of gold across a 1,150-square-kilometre landholding.