13 November 2020
Diversified Minerals Pty Ltd (DMPL) has executed an agreement with ASX-listed miner Aurelia Metals Limited (ASX:AMI) for the sale of 100% of the Dargues Gold Mine in NSW. Ownership of the mine is expected to transfer to Aurelia in late 2020 or early 2021.
Under Aurelia, Dargues will transition to an alliance mining contract with the mine’s mining contractor PYBAR Mining Services. PYBAR and Aurelia will be conducting a thorough consultation process with regards to the alliance mining contract over the coming weeks.
DMPL Director Paul Rouse said: “We believe this transaction is in the best interests of Dargues Gold Mine.
“We have been highly impressed by Aurelia’s vision of future investment to enhance the mine’s longevity and life.”
DMPL acquired Dargues Gold Mine in 2016 via its acquisition of Unity Mining Limited. DMPL’s development of the project saw it become the newest underground gold mine in NSW.
ICA Partners acted as financial advisor and Maddocks acted as legal advisor to DMPL in relation to the divestment process.
For further information please refer to Aurelia’s announcement here.
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