Evolution Mining Acquires Stake in Tribune Resources for $29.5 Million
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Evolution Mining has acquired a 19.9 percent stake in Tribune Resources for a cash consideration of A$41.3 million ($29.5 million).
Tribune’s major asset is the company’s interest in the East Kundana mining operation which is a joint venture between Northern Star Resources Limited (51 percent and operator), Rand Mining Limited (12.25 percent), and Tribune (36.75 percent). The East Kundana Joint Venture (EKJV) tenements are adjacent to Evolution’s 1.7million tonnes per annum Mungari processing plant, which is located approximately 20km west of Kalgoorlie in Western Australia.
Tribune also has a 44.2 percent shareholding in Rand Mining Limited.
Source: Compelo
To stop by Evolution’s website, CLICK HERE
To stop by Tribune’s website, CLICK HERE
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