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Astral partners with MMS to develop the Think Big project.
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Release time：2025-10-24
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MMS will manage development activities, including heritage and environmental studies, resource exploration, and the acquisition of mining permits.
Astral Resources has signed a Letter of Intent (LoI) with Mineral Mining Services (MMS) to develop the Think Big Gold project, which is part of the Feysville Gold project located near Kalgoorlie in Western Australia. Under the agreement, MMS will assume all development costs, which will be recovered from the project's initial cash flow. Profits will be shared between the two parties, with MMS receiving 30% to 50% of the profits. The Letter of Intent includes a 90-day exclusivity period during which a binding agreement will be finalized.
MMS will manage the development activities, including heritage and environmental studies, resource exploration, and the acquisition of mining permits. The joint venture (JV) plans to commence mining operations in the third quarter of 2026 (Q3 2026). Marc Ducler, Managing Director of Astral Resources, stated: "The agreement with MMS provides a clear and well-funded pathway toward early gold production from our Think Big Gold project, offering the company an initial revenue stream while potentially reducing the external funding requirements for developing our flagship Mandilla gold project." "Partnering with a specialized local mining services provider in the field of mineral extraction services significantly mitigates development and financing risks for our shareholders, enabling early production and cash flow generation. At the same time, this collaboration allows Astral to focus on delivering the broader Mandilla project from a substantially strengthened financial position."
Think Big's Mineral Resource Estimate (MRE) stands at 2.4 million tonnes, containing 1.1 grams of gold per tonne—equivalent to 85,200 ounces of gold. The new agreement was initially part of the Mandilla Project's mine life plan and is designed to advance production to an earlier stage in the mining schedule. Additionally, MMS will have the option to participate in other gold development opportunities within Astral's investment portfolio. Both parties will work diligently during the exclusive negotiation period to reach a mutually beneficial agreement, with MMS undertaking scoping studies and developing detailed plans for Think Big. MMS CEO Robert Ryan commented: "We are thrilled to partner with Astral Resources on the development of Think Big. Our preliminary review of the project highlights the exceptional work accomplished by the Astral team, which has instilled in us great confidence regarding the joint venture's potential to deliver substantial returns for both companies." In May of this year, Astral announced its latest Mineral Resource Estimate for the Spargoville gold project located in Western Australia, reporting a current gold content of 139,000 ounces.
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