Queensland gold and copper play Chinova Resources is on the block for $300m
The sale of Chinese owned copper and gold company Chinova is gathering steam,with advisors running the process calling for expressions of interest.
The sale of Queensland copper and gold company Chinova Resources is gathering pace, with the advisors running the process calling for expressions of interest and slapping a $300 million price tag on the business.
BurnVoir Corporate Finance has told prospective buyers that Chinova's Osborne assets, which are located 190 kilometres from Mount Isa, Queensland, have a total resource estimate of 3.9 million tonnes of copper, 6.8 million ounces of gold, 96,000 tonnes of molybdenum and 12,000 tonnes of cobalt, according to a flyer viewed by Capital Brief.
Existing infrastructure at the sites includes a 50-kilometre sealed road, an airstrip, a 19.5-megawatt gas power plant and camps and facilities.
Interested parties are expected to be mid to large-cap Australian gold and copper producers, and mine site visits have been planned over the next few weeks, a source close to the process said.
