Tuesday 17 July 2018

Law firm Maddocks has advised Consolidated Mining & Civil Pty Ltd (CMC) on its purchase of 100 percent of Benagerie Gold Pty Ltd, which holds the Benagerie mining lease, from Havilah Resources Limited in a $13.5 million deal.

The purchase, which was completed last week, means CMC owns the North Portia Copper-Gold Project in northeast South Australia. CMC had previously been engaged in a revenue sharing arrangement for the development of the Portia Gold mine.

The next phase for the mine is the development of a second pit – North Portia – which has copper, gold and cobalt reserves, with a substantial Joint Ore Reserves Committee resource.

The Maddocks team was led by partner Julian Smith and included senior associates Libby Buchanan and Andrew Wright, associate Melissa Ramov and lawyer Maddison Hardiman. The team conducted due diligence and negotiations, and provided tax and duty advice with respect to the transaction over the last four months.

Editor note:

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