Australian mining company Intermin Resources plans to acquire Coolgardie gold project in Western Australia from gold producer Focus Minerals in $40 million deal.
The Coolgardie project includes a processing plant which is currently on care and maintenance.
The potential deal allows Focus to progress its Laverton gold project. Intermin will pay Focus $300,000 in the next seven days to execute the deed.
Intermin and Focus will finalise formal documents for the planned cash and share deal and secure the required approvals within the five-month period.