Stawell Gold Mine ‘Perspective Outlook’January 10, 2018
With the recent developments regarding the sale of the ‘Stawell Gold Mine” Confidence has grown amongst the local and regional sectors with employment opportunities set to rise as the Stawell Gold Mine begins the planning stages to re-open production and operations. With one of the longest standing partnerships throughout Western Victoria, West Cranes & Access Hire are excited to continue, to be a pivotal services provider throughout their vast selection of hire equipment such as; Mobile Crane Hire, Scissor Lift, Elevated Work Platforms, Access Booms and a variety of other specialised services.
Having confirmed the acquisition, executive director Campbell Olsen of Arete has announced the %100 take over from Canadian-based owner, Kirkland Lake Gold.
Arete, which is chaired by former Western Mining chief Hugh Morgan, will pay Kirkland Lake $US6.25 million in cash for its Stawell Gold Mines affiliate, which holds the Stawell mine. The Canadian company will also retain a 2.5 per cent net smelter royalty.
Kirkland Lake chief executive Tony Makuch said the transaction was consistent with the company’s long-term strategy to focus on low-cost, high-grade core assets.
“We believe the management team at Arete is well positioned to optimise the operational potential of Stawell in a sustainable manner to create value,” Makuch said.