High-Tech Metals (ASX:HTM) has executed a non-binding memorandum of understanding (MoU) with SSH Group’s (ASX:SSH) subsidiary SSH Mining Australia to advance development at the Mt Fisher Gold Project in Western Australia.
Under the MoU, SSH Mining will contribute technical, operational, and managerial resources to support High-Tech with approvals, mine planning, grade control drilling, and site establishment.
SSH will also manage and execute development and mining activities. This includes drilling, earthworks, construction, extraction, haulage, and processing logistics, with High-Tech retaining full ownership of the tenement.
Both companies intend to enter into a profit-sharing arrangement, with final definitions of net proceeds, project costs, and sharing ratios to be determined in a binding agreement.
Non-executive Chairman Charles Thomas says this deal represents a step forward for Mt Fisher and builds on the positive working relationship already established.
“By combining SSH’s operational expertise with High-Tech’s project portfolio, we are positioning the company to rapidly accelerate development and unlock near-term value from our gold assets,” Thomas says.
The Mt Fisher Project has a resource of 1.9 million tonnes @ 2 grams per tonne gold for 124,000 ounces of gold. The project contains the Mt Fisher Gold Mine, as well as the Damsel and Wagtail assets.
High-Tech Metals is a mineral explorer and developer focused on its projects in Australia and Canada.
SSH Group is a mining services provider focused on operating across the mining, civil, and construction sectors.
World gold mine supply is poised to grow by 2% to around 3,800 tonnes in 2026. Expected output from mines under-construction and in the Feasibility Study stage are forecast to offset falling output from existing mines.
Mine supply is expected to remain above 3,800 tonnes in 2027. Lower gold prices are likely to result in a slowdown in new and existing mine production.
Like miners in other nations, Australian miners are responding to record prices and increasing supply where possible.
The Department of Industry, Science and Resources (DISR) June 2025 Resources and Energy Quarterly notes further expansions to existing mines are expected over the outlook period.
New mill capacity will also be coming online which will allow total output to rise. Australia gold production is forecast to increase year-on-year by about 6% 2025 to 319 tonnes. Production is projected to rise over the outlook period, reaching 360 tonnes a year by 2027.
Write to Aaliyah Rogan at Mining.com.au
Images: High-Tech Metals
