Monument Mining (TSXV:MMY) said on Tuesday that it has entered into an agreement with a group of Australian companies to acquire the Murchison Gold Project in Western Australia.

Monument will pay AUD$15 million in cash to Jinka Minerals Limited, Kentor Minerals (WA) and KGL Resources Limited, for the 98-square-kilometer tenement package.

As quoted in the press release:

Under the “Mining Property Sale Deed”, Monument will pay consideration of AUD$15 million cash in exchange for the Murchison Gold Project, including a number of mining and exploration tenements and lease applications covering approximately 98 square kilometers of lands prospective for resource extension. The tenement package hold a historical resource estimate of 546,000 ounces of gold, a fully operational gold processing plant, a newly developed camp site and all necessary infrastructure. Without distraction from its present operational program in Malaysia, Monument will move quickly with expectation to place this project into production.

Read the full press release by Monument Mining (TSXV:MMY)

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