High-Tech Metals Limited has entered a profit-sharing joint venture with SSH Mining Australia Pty Ltd to drill, evaluate, process, and sell historic gold ore stockpiles at the Mt Fisher Gold Project in Western Australia. The agreement, signed on 21 May 2025, involves exploring approximately 144,000 to 195,000 tonnes of material with an estimated grade range of 0.80 to 1.20 grams per tonne of gold. The project builds on historic work dating back to 1987, when previous open-cut mining produced 30,000 ounces of gold at an average grade of 4.3 g/t. Under this venture, SSH Mining will execute key operational activities such as reverse circulation drilling, metallurgical testing, and ore haulage, while HTM retains 85% of net project profits, with 15% allocated to SSH Mining. The next phase of the project will see drilling programs initiated to confirm in-situ gold grades and to support the establishment of a maiden Mineral Resource Estimate. Metallurgical test work is scheduled to run concurrently, with early indications suggesting gold recoveries of 95% at a grind size of P80 150μm, and the possibility of even higher efficiencies under altered conditions. Discussions are also underway with nearby processing facilities to secure a toll treatment arrangement, promising an early cash flow opportunity that could help fund further exploration across HTM’s portfolio. From a bullish perspective, the joint venture represents a near-term revenue-generating opportunity, positioning High-Tech Metals Limited to unlock cash flow from underutilized assets. The profit-sharing structure is appealing for investors, as it offers significant upside while leveraging established operational expertise from SSH Mining. Additionally, the strong historical recovery figures and the potential to confirm and expand the estimated ore tonnage add to the positive outlook. Conversely, on the bearish side, the exploration target remains conceptual, with further drilling required to definitively characterize the stockpile’s grade and quantity. The reliance on historical data, coupled with uncertainties in estimating a Mineral Resource, means that the project carries inherent technical and exploration risks. Early-stage test and drilling results will be crucial to validate the economic potential projected in the agreement. Overall, the deal positions High-Tech Metals Limited and its partners to capitalize on a historic asset with promising recovery metrics, balanced by the typical risks associated with early exploration projects.