Kirkland Lake to sell Australian gold mine to Arete Capital
Canadian gold producer Kirkland Lake Gold Ltd has agreed to sell all of the issued and outstanding common shares of Stawell Gold Mines Pty Ltd to Arete Capital Partners, an Australian mining private equity firm. Kirkland agreed to sell Stawell, which holds the Stawell Gold Mine located in the State of Victoria, Australia, for US$6.25 million in cash. The Toronto-based company will retain a 2.5 percent net smelter return royalty on the Stawell mine. The deal is expected to close this month.
15 December 2017•2 mins read
