Leeuwin Metals (ASX:LM1) advances development and collaboration at Marda Gold Project

Leeuwin Metals has entered a collaborative framework to evaluate development, mining, processing, and funding pathways for its Marda Gold Project in Western Australia.

The company announced a non-binding Memorandum of Understanding with Bain Global Resources and its affiliate MEGA Resources, combining Leeuwin’s mineral resource base with funding, operational, and processing expertise, while continuing exploration-led growth and project evaluation.

Highlights

• Memorandum of Understanding signed with Bain Global Resources and MEGA Resources.
• Framework established to assess development, mining, processing, and funding opportunities for Marda.
• Collaboration includes potential investment capital, contract mining, operational services, and processing solutions.
• Leeuwin continues to progress an updated Mineral Resource Estimate incorporating recent drilling and optimisation work.

The MOU formalises a partnership combining Leeuwin’s 10.2Mt JORC 2012 Mineral Resource at Marda, grading 1.05 g/t Au for 342,300oz, with Bain’s investment and project development capability and MEGA’s operational expertise.

Under the agreement, the parties will evaluate pathways to unlock value, including project development, funding structures, contract mining, processing solutions, broader exploration opportunities, and commercial structures such as earn-ins or joint ventures.

Leeuwin Executive Chairman Christopher Piggott said:

“This is an exciting step for Leeuwin. Bringing in Bain and MEGA pairs serious mine development, operating and funding capability with our growing Marda gold resource, and MEGA is genuinely keen to collaborate and help unlock its potential. With an updated Marda Mineral Resource Estimate on the way, the timing is ideal to be evaluating real development, mining and processing pathways. We see this collaboration as a powerful complement to our exploration-led growth, and we look forward to progressing it quickly,”

The MOU provides a structured framework to assess development opportunities at Marda, encompassing mining, operational management, and potential processing solutions, including construction or acquisition of processing infrastructure or third-party toll treatment.

The collaboration also covers evaluation of exploration and development opportunities across the companies’ respective tenements, supporting Leeuwin’s strategy while project evaluation and optimisation continue.

MEGA’s experience as a Western Australian mine operator and turnkey contractor, combined with Bain’s investment capability, underpins the operational and financial support for potential project advancement.

The Marda Gold Project remains a cornerstone asset within Leeuwin’s portfolio, complemented by a diversified suite of exploration assets across Western Australia and Canada.

Leeuwin continues to progress an updated Mineral Resource Estimate for Marda, integrating recent drilling and ongoing optimisation work, providing a platform to evaluate development and processing pathways.

This collaboration establishes a clear mechanism to assess value creation and operational efficiency while maintaining exploration momentum.

Looking forward, Leeuwin will focus on finalising its updated Mineral Resource Estimate, evaluating development and processing options with Bain and MEGA, and systematically exploring the broader tenement portfolio.

The MOU sets a defined six-month framework for collaboration, subject to execution of any definitive agreements, and represents a strategic step in aligning resource, operational, and financial expertise to unlock the potential of the Marda Gold Project.

—

Click here to view the latest ASX news.

Subscribe to The Day’s Play for daily ASX insights and capital markets updates.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.