Golden Energy JV completes acquisition of Australia gold mine

The JV company, Ravenswood Gold Group, comprises Gear's wholly-owned subsidiary, Golden Investments II, and Raven Gold Nominee, which is the trustee of investors managed or advised by EMR.

In a previous bourse filing, Gear said Raven Gold Nominee would buy the mine for up to A$300 million . In its latest filing on Tuesday, Gear said Raven Gold Nominee had paid former mine owner Carpentaria Gold a completion payment of A$50 million in cash, plus a working capital adjustment of A$1.6 million in cash.

Ravenswood is about 130 kilometres south of Townsville in Queensland. It is an existing operation with"significant" expansion potential to become a large-scale, low-cost and long-life producer, Gear said in an earlier filing.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore, Japanese companies tie up to explore hydrogen as energy sourceSINGAPORE (THE BUSINESS TIMES) - Five Singapore and two Japanese companies on Monday (March 30) signed a memorandum of understanding (MOU) to develop ways to use hydrogen as a low-carbon energy source in the city-state.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »