Alacer Sells Australian Business Unit

Alacer Gold (TSX:ASR, ASX:AQG) is selling its Australian business unit for A$40 million in cash, Mining Weekly reported on Monday.

As quoted in the market news:

TSX- and ASX-listed Alacer was on the hunt for a buyer for its Australian assets, and previously warned that it would place these mines on care and maintenance if one could not be secured.

Under the terms of the agreement, Metals X paid Alacer a A$10-million deposit, which will be held in escrow pending completion of the sale, which is subject to and will occur within five business days following approval from the Australian Foreign Investment Review Board.

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