Classic Minerals Signs MOU with Bain Global Resources for Gold Ore Supply

What's Happening?

Classic Minerals has entered into a non-binding memorandum of understanding with Bain Global Resources to supply gold ore from its Rama Gold Project in Western Australia. The agreement outlines the supply of up to 50,000 tonnes of gold ore per month to the Goldbridge Processing Facility over a three-year term. The strategy allows for flexible processing capacities, ranging from 250,000 to 1 million tonnes annually. The ore will be sourced from the Lady Ada and Lady Magdalene deposits, reinforcing regional demand for the Goldbridge facility.

Why It's Important?

This agreement positions Classic Minerals to deliver long-term value to shareholders by securing a consistent supply of gold ore to the Goldbridge Processing Facility. The partnership underscores the company's production-based growth strategy and highlights the demand for gold processing in the region. By testing various scenarios during the feasibility stage, Classic Minerals aims to optimize its operations and enhance its transition from an explorer to a gold producer. The deal reflects the broader industry trend of securing supply chains and expanding production capabilities.