Mineral Mining Services (MMS) has signed a Letter of Intent (LOI) with Astral Resources NL to form a strategic Development Partnership and Joint Venture (JV) for the Think Big Gold Project, located near Kalgoorlie, Western Australia.
This landmark agreement establishes an innovative, fully funded pathway to production for the Think Big deposit. Under the terms of the proposed JV, MMS will fund 100% of the development costs and manage all operational activities required to bring the project into production. This includes resource development, mine planning, approvals, and all mining services.
The partnership structure ensures strong alignment, with MMS recovering its development costs from initial project cash flows before sharing in the profits. It says this model showcases MMS’s capability to deliver comprehensive, end-to-end solutions, leveraging its financial strength and operational expertise to unlock value for its partners beyond the scope of traditional mining services contracts.
Robert Ryan, CEO of MMS, commented on the new partnership: “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. We believe this partnership will not only deliver strong returns but also provide the necessary funding to support Astral’s continued growth and long-term vision, the development of a significantly larger project at Mandilla.”
Astral Resources’ Managing Director, Marc Ducler, highlighted the benefits of the agreement: “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.”
