Leadership Changes and JV Risks Loom as High-Tech Metals Expands Gold Footprint

Strategic Acquisition Expands High-Tech Metals’ Gold Portfolio

High-Tech Metals Limited (ASX – HTM) has taken a decisive step forward by completing the acquisition of the Mt Fisher and Mt Eureka Gold Projects in Western Australia's Northern Goldfields. This move secures a commanding 1,150 square kilometre landholding in a region renowned for its gold endowment, including an existing JORC-compliant resource of 187,000 ounces of gold. The acquisition not only bolsters High-Tech’s asset base but also positions the company to capitalize on the underexplored potential of the Mt Fisher greenstone belt.

Located approximately 500 kilometres northeast of Kalgoorlie and near the prolific Yandal greenstone belt, these projects offer significant exploration upside. The Mt Eureka project, in particular, features tightly folded greenstone sequences with multiple shear zones and fault structures that have historically hosted high-grade gold mineralisation.

Aggressive Exploration and Early Production Plans

High-Tech Metals has confirmed multiple high-priority drill targets across both projects, with a substantial 15,000-metre drilling program scheduled for the second half of 2025. This aggressive exploration strategy aims to expand the current resource base and unlock new zones of mineralisation, particularly along the interpreted shear zones at Mt Eureka.

In parallel, the company has executed a Mining Profit Share Joint Venture Agreement with SSH Mining (ASX – SSH) to evaluate and commercialise historic low-grade gold stockpiles at Mt Fisher. These stockpiles, estimated at between 144,000 to 195,000 tonnes grading 0.80 to 1.20 grams per tonne gold, represent an opportunity for early-stage production and cashflow. The JV agreement allocates 85% of net profits to High-Tech, providing a near-term revenue stream while exploration advances.

Capital Raising and Board Enhancements Support Growth

To fund its expanded exploration and development agenda, High-Tech Metals successfully completed a $2.5 million placement and launched a $1 million entitlement offer. Notably, Ragnar Metals (ASX – RAG) made a $1.2 million cornerstone investment and secured a board seat for Tyler Formica, a seasoned business leader with extensive experience in investment and operational strategy. This strategic partnership and board refresh are expected to enhance corporate governance and support the company’s growth trajectory.

Meanwhile, the company is undergoing leadership changes, with the resignation of Non-Executive Director Harpreet Cheema and the non-renewal of CEO Warren Thorne’s contract. The search for a new CEO is underway, signaling a potential shift in operational focus as High-Tech Metals advances its flagship projects.

Financial Position and Outlook

Exploration expenditure for the quarter was $193,000, with no mining production or development costs reported, reflecting the early stage of project advancement. The company ended the quarter with $1.6 million in cash, providing an estimated 3.6 quarters of funding at current expenditure levels. This financial position, combined with the recent capital raises, equips High-Tech Metals to pursue its exploration and development plans without immediate funding pressure.

Overall, the acquisition and subsequent strategic initiatives mark a pivotal chapter for High-Tech Metals, transitioning it from a junior explorer to a more substantial player in Western Australia’s gold sector.