The Mount Carlton gold mine is officially on the market, with Navarre Minerals receivers McGrathNicol Restructuring opening an expressions of interest sale campaign.

Located about 150km south-west of Townsville, the operation is now in care and maintenance after receivers were appointed last month.

“This sale is an opportunity to acquire an established gold mine and floatation processing facility previously developed and operated by a major gold producer,” McGrathNicol partner Mark Holland said.

“It offers an approved open pit ore reserve, future expansionary resources, an opportunity for tailings reprocessing and a large fleet of mobile mining equipment that provide a pathway to restart operations.”  

Navarre acquired the Mount Carlton gold operation from Evolution Mining in late 2021 in a $90 million deal.

The site has been operating since 2013, producing about 1.0Moz of gold together with copper and silver by-products sourced mainly from the V2 open pit mine.

The sale includes the gold mine, associated tenement package, an established 950,000-tonne processing facility and mine infrastructure.

Expressions of interest close this Friday (July 21).

Parties who have executed a confidentiality agreement will then be invited to undertake initial due diligence and submit a non-binding indicative offer by mid- August 2023.

An initial meeting of creditors will be held on June 29 for a raft of related entities including Navarre Minerals Queensland, Black Range Metals, Loddon Gold, North Central Gold Exploration, Tandarra Gold, and Western Victoria Gold.