Key Highlights

  • Dundas Minerals (ASX:DUN) has entered a binding Ore Purchase Agreement with Forrestania Resources (ASX:FRS) for gold ore from its 100%-owned Rockland Gold Project.
  • The agreement covers up to 750,000 tonnes over an initial 24-month term, with pricing linked to ore grade, metallurgical recovery and the gold price.
  • No Mineral Resource or Ore Reserve has been estimated at Rockland, and Dundas has not made a decision to mine.
  • Rockland drilling continues to extend the gold mineralisation, with the drill rig due back within a fortnight.

Dundas Minerals Limited (ASX:DUN) announced on 9 November 2026 a binding Ore Purchase Agreement with Forrestania Resources Limited (ASX:FRS) covering gold-bearing ore from its Rockland Gold Project. The project is about 40 kilometres north of Kalgoorlie in Western Australia. The agreement creates a processing pathway for Rockland ore through Forrestania’s facilities and is presented by Dundas as a route that requires minimal Capital and does not dilute shareholders.

The Agreement and Processing Route

Ore may be processed at Forrestania’s Lake Johnston or Edna May facilities over an initial 24-month term, up to a maximum of 750,000 tonnes. The agreement is structured so that Dundas can monetise ore from Rockland without building its own processing plant, which the company describes as an advantage.

Dundas holds the Rockland Mining licence at 100%, and the project sits on a granted lease. The company says the agreement has no effect on its share capital, as no Equity is being issued to Forrestania under the contract.

Rockland Drilling Progress

The company reports that drilling continues to extend mineralisation at Rockland, which remains open down dip and along strike. An earlier result from hole 26RKRC011 returned 12 metres at 1.25 g/t gold from 168 metres, including 4 metres at 2.18 g/t gold from 176 metres and 4 metres at 4.87 g/t gold from 200 metres.

The drill rig is due back at Rockland within the next fortnight to continue the resource extension program. Results from that drilling will inform whether a resource can be estimated for the project.

The timing of the drilling is relevant to the agreement. The rig returning within a fortnight will add to the dataset that will determine whether a resource can be defined. Because mineralisation remains open down dip and along strike, the outcome is not fixed. Until a resource is estimated, the tonnage ceiling in the agreement remains a contractual limit, and the actual Volume of ore available for delivery to Forrestania could differ from it. Readers can follow later drilling updates to see whether the mineralisation extends in the directions the company is testing.

What the Deal Does Not Yet Prove

Dundas has stated that the agreement is a commercial framework only. The tonnage limit is a contractual ceiling rather than a production target, and the company has not made a decision to mine.

Ore grades, recoveries and total tonnes at Rockland remain uncertain, and the agreement’s value depends on the outcome of future drilling and studies. Forrestania’s processing costs and recovery performance will also affect the Economics of any ore delivered under the contract.

Final Word

The Rockland agreement allows Dundas to advance an early-stage gold project without committing capital to processing, while the terms leave the volume and grade of future ore open. Progress will depend on the drilling now restarting at Rockland and on whether an initial resource estimate can be defined. Those results will show whether the contractual pathway can be used at scale.

The results of the next Rockland drilling will be the main test of the agreement’s long-term value, because they will determine whether the 750,000-tonne ceiling sits within the reach of a defined resource.