Meekatharra Gold Corporation is purchasing (out of receivership) the assets of the Meekatharra Gold Operations in Western Australia. The operations include a JORC Resource of 2.4 million ounces of gold, approximately $100 million in capital equipment including a fully functional mill and approximately 1000 square kilometers of tenements which have produced 3.5 million ounces of gold. The Company will re-commission the mill and initiate production from the open pit reserves. Cash flow from the pits will be utilized to support progressive establishment of underground operations. Production is expected in six months after the acquisition. Significant near-term exploration potential exists at Meekatharra near current resources and the large tenement position presents the opportunity to expand operations and mine life into the future. .
