Gold miner Evolution will sell the Pajingo gold mine and surrounding exploration tenements in North Queensland to an emerging Chinese miner for up to A$52-million, the ASX-listed company announced on Tuesday.
Minjar Gold will pay A$42-million in cash upfront for the gold mine, which started operating 30 years ago, as well as a 1% net smelter return royalty of up to A$10-million for gold production above 130 000 oz.
