Secret buyer snaps up Lakewood mill for $5.5 million

Silver Lake Resources has sold its Lakewood gold mill for $5.5 million

Silver Lake did not reveal the identity of the buyer, but said it had reached an agreement with a private consortium for the outright sale of the mill and its associated infrastructure.

The company has been paid a $500,000 deposit for the mill and will also receive 2 per cent gross revenue royalty on all minerals mined or recovered from a nearby mining lease.

Lakewood Mill, 5km south-east of Kalgoorlie, was closed in July after the company put its Murchinson mine into care and maintenance.

At the time, Silver Lake said it would cost $40,0000 a month to care for the mothballed mill, announcing it had received a number of “unsolicited expressions of interest” to use or buy the operation.

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