New deal on the table for Auctus mining assets
Consolidated Tin Mines plans to take over Auctus-owned operations in the Chillagoe region, west of Cairns, under a new $26.5 million deal with administrators.
The acquisition includes the Mungana processing plant, the inactive Mungana mine and the King Vol polymetallic mine, which produces about 360,000 tonnes of ore per annum .
Consolidated Tin Mines (CSD) says combining the Auctus assets with its existing operations in the region will deliver a well-diversfiied, high-grade, long-life polymetallic business.
Gold potential a high priority
Managing director Ralph De Lacey highlighted the gold producing potential in the package. . .
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