Gold miner Evolution Mining has struck a A$125-million deal to sell its Cracow gold mine, in Queensland, to fellow-listed Aeris Resources.
The consideration would consist of a A$60-million cash payment on the completion of the transaction, a further A$15-million cash payment at the end of June next year, and up to A$50-million in contingent consideration payable in the form of a 10% net value royalty, based on gross revenues less C1 direct costs in relation to any gold produced at Cracow in a five-year period between July 2022 and June 2027.