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SouthKal gold to sell for $80m

Australia-focused mid-tier gold miner Westgold Resources (AU:WGX) and RNC Minerals (CN:RNX) out of Canada have agreed entered an option agreement that gives the latter the right to buy the South Kalgoorlie gold operations for A$80 million (US$61 million).

SouthKal gold to sell for $80m SouthKal gold to sell for $80m SouthKal gold to sell for $80m SouthKal gold to sell for $80m SouthKal gold to sell for $80m

The South Kalgoorlie operations are currently producing at a rate of some 40,000ozpa

The two companies have signed a toll-processing agreement over the operation, which Westgold said would underpin its future for at least the next year.