Highlights

• High-Tech Metals has signed a binding Ore Purchase Agreement (OPA) with Forrestania Resources Limited covering eligible gold-bearing ore.

• HTM will pay for haulage from the Mt Fisher run-of-mine pad to the Forrestania processing facility, and a.

• The announcement noted that the earlier Stockpiled Ore Joint Venture, announced on 21 May 2026, will terminate on.

• HTM said ore deliveries remain subject to further technical and economic assessment, agreed delivery schedules with Forrestania and.

High-Tech Metals (ASX:HTM) — has signed a binding Ore Purchase Agreement (OPA) with Forrestania Resources Limited covering eligible gold-bearing ore from its Mt Fisher Gold Project in the Northern Goldfields of Western Australia. The company said the agreement allows for up to 400,000 tonnes of ore over a 24-month term, but stressed that the figure is a contractual maximum and not a production target.

Key terms of the agreement

According to HTM, the OPA has no conditions precedent. Pricing follows a formula that takes account of ore grade, metallurgical recovery and the prevailing gold price, with processing costs and a treatment charge deducted. The formula uses a base grade of 1.45 g/t gold and a maximum recovery of 91 per cent.

HTM will pay for haulage from the Mt Fisher run-of-mine pad to the Forrestania processing facility, and a one-off plant access fee of A$50,000. The location of the processing facility was not specified. The agreement lets Forrestania redirect deliveries to a closer facility that it, or a related company, controls or can access, although HTM may elect within 10 business days of notice to stay with the current facility. A separate arrangement at the Wagtail deposit with SSH Mining Australia, a subsidiary of SSH Group Ltd , is excluded from the OPA.

The announcement noted that the earlier Stockpiled Ore Joint Venture, announced on 21 May 2026, will terminate on 27 November 2026. HTM's quarterly report, released the previous day, does not describe a stockpile joint venture, so the relationship between the two arrangements is not fully explained in the documents.

What stands behind the ore

HTM said ore deliveries remain subject to further technical and economic assessment, agreed delivery schedules with Forrestania and all necessary regulatory approvals. In its quarterly report for the period ended 30 September 2026, the company reported a Mt Fisher Mineral Resource of 800,000 tonnes at 2.0 g/t gold for 51,000 ounces, up from 34,700 ounces in the 2022 estimate. Of this, 230,000 tonnes at 1.8 g/t for 13,000 ounces is Indicated, with the remaining roughly 570,000 tonnes Inferred, including a new underground Inferred Resource of 280,000 tonnes at 3.0 g/t for 27,000 ounces.

The resource includes a stockpile of 150,000 tonnes at 0.9 g/t gold for 4,300 ounces, which is classified as Inferred. HTM said potential processing of stockpiles is being evaluated for near-term production scenarios. Metallurgical testwork on stockpile material showed combined gravity and cyanide recoveries of up to 92.8 per cent, and the company described the material as free-milling and non-refractory.

Financial position

HTM reported closing cash of A$8.883m at 30 September 2026, down from A$9.821m at the start of the quarter. Operating outflow was A$147,000 and exploration spending A$790,000, which the company said implies a runway of about 9.5 quarters at the current rate. It has no debt facilities. The company reported no receipts from customers in the quarter, so the OPA has not yet generated revenue.

Risks and next steps

The company listed a number of risks. No Ore Reserve has been estimated, HTM has not made a decision to mine, and most Mt Fisher ounces are Inferred. Other risks include resource estimation uncertainty, commodity price and exchange rate movements, regulatory, native title and heritage matters, and access to funding. The quarterly report also noted that several Mt Fisher and Mt Eureka tenements are applications or are subject to earn-in or beneficial-ownership arrangements, and it contains tenement and resource figures that do not fully reconcile.

Confirmed upcoming milestones include Phase 2 reverse circulation drilling at Mt Fisher in the December 2026 quarter, targeting down-plunge and northern extensions, and completion of the Wagtail Scoping Study. HTM's annual general meeting is scheduled for 27 November 2026 and will include a proposed name change to Beyond Discovery Limited, subject to ASX confirmation.