KRRGF - Karora Resources to acquire Lakewood Mill in Western Australia

Karora Resources (OTCQX:KRRGF) has agreed to acquire the 1 Mtpa Lakewood Mill gold processing facility located near Kalgoorlie, Western Australia in a A$80M cash and stock deal. The transaction is subject to satisfactory completion by Karora of its due diligence, TSE approval and Australian regulatory approval. Closing will occur three business days following the satisfaction or waiver of such conditions.  The Lakewood Mill is situated ~60km from Karora's Beta Hunt Mine. The mineral resource company successfully tolled Beta Hunt material through the Lakewood mill in Q122, achieving 94% Au recovery. The acquisition will immediately de-risk Karora's (OTCQX:KRRGF) growth plan to boost gold production to 185,000-205,000 oz. by 2024, by eliminating the procurement, schedule and construction risks associated with a major expansion of the firm's Higginsville Mill. Furthermore, the addition of a second mill is expected to immediately increase Karora's nominal processing capacity by over 60% from 1.6 Mtpa to ~2.6

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Karora Resources to acquire Lakewood Mill in Western Australia