Gold miner Saracen Mineral Holdings has struck an agreement with fellow-listed Talisman Mining to purchase the Sinclair project, in Western Australia, for A$10-million.
In addition to the cash payment, Saracen will also pay Talisman a 2% net smelter royalty on all metals produced from the Sinclair tenements, as well as on the non-precious metals produced from Saracen’s own Waterloo tenement, which is currently on care and maintenance.