OzAurum signs Mulgabbie North heap leach 50:50 profit share agreement

OzAurum Resources Ltd (ASX: OZM) Managing Director and CEO Andrew Pumphrey joins Proactive’s Tylah Tully to discuss the agreement it has signed with Line Hydrogen Pty Ltd and BIM Metals Pty Ltd to complete the Mulgabbie North Heap Leach Feasibility Study, which will be fully funded by both companies. The study, expected to take 12 months, may lead to mining operations if deemed economically viable. LHBM will fund and operate the project, with net profits split equally between OzAurum and LHBM. Brendan James, a hydrometallurgical engineer with over 25 years of heap leach experience, will lead the project, adding expertise and reducing risk. The agreement includes a $4 million break fee, should either party withdraw, with exceptions for technical or permitting issues. The project aims to produce Net Zero gold as part of Line Hydrogen’s strategy to replace diesel fuel in Australia. The Mulgabbie North resource is estimated at 260,000 ounces of gold, with 64% in the measured and indicated categories. The project benefits from its proximity to Kalgoorlie's mining hub and identified new gold targets for further drilling. The heap leach process will focus on oxide and transition ores, with expected high recovery rates. #ProactiveInvestors #ASX #GoldMining #HeapLeach #NetZeroGold #FeasibilityStudy #GreenEnergy #MiningAustralia #Hydrometallurgy #GoldProject #Kalgoorlie #GoldExploration #ResourceEstimate #MiningOperations #SustainableMining #GoldResource #NewGoldTargets #GoldProduction #MulgabbieNorth #OZM #BrendanJames #BIMMetals #LineHydrogen #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews