West Perth-based Navigator Resources has entered into a deal to buy the Bronzewing gold mine from the administrators of View Resources for nearly $10 million.
Under the deal, which is subject to due diligence, Navigator will pay $9.55 million for the project which includes a 2.3 million tonne per annum gold processing plant and a 280 person accommodation village.
Navigator will pay an additional $6.45 million for environmental bonds.
View entered administration in February last year on the back of disappointing production results from Bronzewing.
The mine, which also has underground operations, has since been placed on care and maintenance.
Navigator said there is scope to start processing stockpiles in November this year, while there was potential for at least a three-year, 100,000 ounce per annum open pit operation starting in January next year.
Navigator said it will only consider an open pit option for the time being.
The company is also advancing its Leonora gold project.
Navigator has until June 30 to satisfy all the conditions of the agreement.
