Beaconsfield mine owners consider sale

Beaconsfield mine owners consider sale

The Beaconsfield Gold Mine’s owner is seeking expressions of interest for shares or assets of the company.

But the mine’s majority owner, Allstate Explorations, has stressed the offers are non-binding.

The other part-owner of the Beaconsfield Joint Venture, Beaconsfield Gold has expressed interest in buying Allstate’s stake in the mine.

The mine was closed after a rock fall in April that killed one miner and trapped two others for a fortnight.

Allstate has been in administration since 2001 and it is hoping these measures will improve its financial situation.

The chairman of Allstate Explorations, Rod Elvish, says there has been a lot of interest so far.

“It’s on public record that Beaconsfield Gold would like to take over the whole project, that is one option and they’ll obviously be part of the process,” Mr Elvish said.

“Other companies have made different suggestions to us to perhaps become part of the Allstate group and take us forward.”

Expressions of interest will close in a month.

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