Key Highlights

  • Forrestania Resources (ASX:FRS) has entered a binding Ore Purchase Agreement with Dundas Minerals (ASX:DUN) for gold ore from the Rockland Gold Project.
  • The agreement covers up to 750,000 tonnes over an initial 24-month term, with the seller responsible for transport to Forrestania’s processing facility.
  • Pricing is linked to ore grade, metallurgical recovery and the prevailing gold price.
  • The agreement is a commercial framework only, and no Mineral Resource or Ore Reserve has been estimated at Rockland.

Forrestania Resources Limited (ASX:FRS) announced on 9 November 2026 that it has signed a binding Ore Purchase Agreement with Dundas Minerals Limited (ASX:DUN) covering gold-bearing ore from the Rockland Gold Project in Western Australia. The agreement gives Forrestania a route to buy and process third-party ore through its existing processing infrastructure, adding to a series of ore Supply arrangements the company has been building.

Terms of the Agreement

Under the agreement, Forrestania may purchase and process up to 750,000 tonnes of ore over an initial 24-month term. The Rockland project sits on Mining Lease M24/974 in the Eastern Goldfields. Dundas describes the deal as establishing a processing pathway for the ore with minimal Capital requirements and no Shareholder dilution for its own shareholders.

Ore may be processed at either of Forrestania’s Lake Johnston or Edna May facilities. Transport to the processing Facility remains the responsibility of the seller, which limits Forrestania’s logistics commitments under the contract.

Pricing and Strategic Purpose

The price is calculated using a formula linked to ore grade, metallurgical recovery and the prevailing gold price. This structure means Forrestania’s cost of ore will move with gold prices and with the performance of the ore once processed, rather than being fixed at signing.

Forrestania describes the agreement as one of several ore supply opportunities it is securing on approved mining leases around its processing hubs. The company says these arrangements together build a pipeline of potential third-party sources for future processing campaigns.

The arrangement also shows how Forrestania is positioning its processing hubs. Each ore supply agreement adds potential throughput to plants built around existing feed sources. The Rockland deal is framed as one of several such agreements on approved mining leases, and the pipeline is said to support future processing campaigns. Whether that pipeline becomes regular supply will depend on delivery timing, the quality of the ore once it arrives and the pricing outcomes under the formula, none of which is yet visible.

What the Agreement Does Not Establish

The agreement is explicitly a commercial framework. The 750,000-tonne limit is a contractual maximum rather than a production target, and Dundas has stated that no Mineral Resource or Ore Reserve has been estimated at Rockland and that it has not made a decision to mine.

Rockland is described as an emerging gold discovery with mineralisation open down dip and along strike. Feed volumes, grades and recoveries therefore remain uncertain, and the amount of ore that is ultimately delivered could be well below the contractual maximum.

Final Word

The Rockland agreement gives Forrestania access to additional feed for its processing plants without committing capital to a mine, while Dundas gains a processing route for an asset that has yet to be fully defined. The commercial value of the arrangement depends on what grades and tonnages are proven at Rockland, which is a matter for future drilling and studies. The next checkpoints are the ongoing drilling and any resource estimate for the project.

Because the agreement pairs an ore purchase with pricing tied to the gold price, the commercial result will be shaped by market conditions as well as by the physical performance of the Rockland ore once it is processed.