Wedoany.com Report-Oct. 22, Astral Resources has signed a letter of intent (LoI) with Mineral Mining Services (MMS) to develop the Think Big Gold Project, part of the Feysville Gold Project near Kalgoorlie, Western Australia. Under the agreement, MMS will fund all development costs, which will be recouped from the project’s initial cash flows. Profits will subsequently be shared, with MMS receiving between 30% and 50%. The LoI includes a 90-day exclusivity period to finalise binding agreements.

The JV aims to commence mining by Q3 2026.

MMS will manage all development activities, including heritage and environmental studies, resource development, and obtaining mining approvals. The joint venture aims to commence mining by the third quarter of 2026 (Q3 2026).

Astral Resources Managing Director Marc Ducler said: “The agreement with MMS provides a clear, fully funded pathway to establish early gold production from our Think Big Gold Project, providing an initial income stream for the company and potentially reducing the external funding requirement to develop our flagship Mandilla Gold Project. Partnering with an expert local mining services provider in Mineral Mining Services significantly de-risks the development and funding process for our shareholders, delivering early production and cash flow while allowing Astral to focus on delivering the broader Mandilla Project from a greatly strengthened financial base.”

Think Big hosts a mineral resource estimate (MRE) of 2.4 million tonnes at 1.1 grams per tonne gold, equating to 85,200 ounces. Originally part of the Mandilla project’s life-of-mine plan, this agreement advances production to the start of the mine plan. MMS will also hold an option to participate in other gold development opportunities within Astral’s portfolio.

Both companies plan to finalise agreements within the exclusivity period, with MMS conducting a scoping study and development plan for Think Big. MMS CEO Robert Ryan said: “We are excited to partner with Astral Resources on the development of Think Big. Our initial review of the project highlights the exceptional work completed by the Astral team, which gives us great confidence in the joint venture’s potential to be highly profitable for both companies.”

The joint venture structure allows Astral to benefit from early cash flow while reducing its reliance on external financing for its broader Mandilla Gold Project. It also accelerates the timeline for gold production and strengthens the company’s financial position for future growth.

In May 2025, Astral announced an updated MRE for its Spargoville Gold Project in Western Australia, now reporting 139,000 ounces of contained gold, further demonstrating the company’s growing resource base in the region.

Overall, the partnership with MMS provides a fully funded development pathway, operational expertise, and early production for Think Big, aligning with Astral’s broader strategy to expand its gold portfolio and enhance shareholder value through efficient, risk-managed project development.