MHM, Stone ink JV

MHM Metals is looking to get into gold and has signed an $A18 million deal with Chinese-backed Stone Resources Australia to redevelop the Brightstar mine at Laverton.

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Melbourne-based MHM can earn an initial 50% in the project by spending $A7.5 million on the project.

The company can move to 80% by spending a further $10.5 million.