Mining and commodity trading company Auric Mining has entered into a letter agreement, subject to due diligence, to acquire the 180 000 t/y Burbanks gold processing facility and related assets and infrastructure for A$4.4-million.
The plant is located 15 km south of Coolgardie, Western Australia, and is within trucking distance of Auric's gold resources.
"[The plant] has all the key infrastructure and approvals in place to fast-track Auric towards becoming a fully integrated sustainable gold producer in the heart of the Goldfields with complete control over our production.
"We will conduct due diligence in the coming months and look forward to updating investors on the outcome of that,” comments MD Mark English. 