January 13, 2020 / 4:44 PM / a month ago

Australia's Resolute in talks to sell Ravenswood gold mine for up to $207 million

(Reuters) - Resolute Mining Ltd (RSG.AX) said on Monday it entered into talks with private equity fund EMR Capital Management Ltd to sell its Ravenswood gold mine in Australia for up to A$300 million ($207 million).

The sale would comprise an initial upfront payment of A$100 million and up to A$200 million in additional deferred consideration, the gold miner said.

“While negotiations and documentation are advanced, there is currently no certainty that an agreement for the sale of Ravenswood will be reached between Resolute and EMR Capital,” the company said.

Reporting by Mekhla Raina in Bengaluru; Editing by Amy Caren Daniel

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