Karora Resources acquires Lakewood gold mill near Kalgoorlie for $56m


Karora Resources has closed the previously announced AUD 80 million ($55.91 million) acquisition of the Lakewood gold mill near Kalgoorlie, Western Australia from an undisclosed seller.

The operating, fully permitted Lakewood gold processing plant has a capacity of 1Mtpa and is located nearly 60km from Karora Resources’ Beta Hunt mine.

Paul Andre Huet — Karora Resources Chairman and CEO said: “Closing the acquisition of the Lakewood Mill is an important transformational step forward for Karora and provides several immediate strategic and operating benefits to Karora.

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“The addition of the Lakewood mill increases our current nominal processing capacity to approximately 2.6 Mtpa (1.6 Mtpa at Higginsville and 1.0 Mtpa at Lakewood) and significantly de-risks our growth plan to increase gold production to between 185,000 and 205,000 ounces by 2024, by eliminating the procurement, schedule and construction risks associated with a major expansion of Karora’s Higginsville Mill.”

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