Wednesday, 20th June 2007 (2184 views)

Gold exploration company Apex Minerals has acquired Melbourne-based Oxiana's Wiluna gold mine.

Included in the deal are existing gold resources and additional exploration potential as well as the plant and infrastructure.

The deal between the two gold mining companies was worth AUS $29.5 million (£12.3 million) with possession of the Wiluna mine passing to Apex on August 1st this year.

"In its recent history, the feed for the...plant at the Wiluna operation has consisted of approximately 50 per cent high-grade underground ore with the balance made up from low-grade open pit ore and stockpiles," commented Apex managing director Mark Ashley.

Mr Ashley added that the Wiluna acquisition complements Apex' broader gold strategy, furthering its plans to consolidate ownership of a number of gold deposits in the Eastern Goldfields region.

Apex recently acquired Gidgee, Youanmi and Aphrodite gold projects in the Eastern Goldfields of Western Australia for AUS$28 million.

 

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