Auric Mining (ASX:AWJ) has finalised due diligence for its planned acquisition of the Burbanks Plant and Associated Assets in Coolgardie, Western Australia.
The $4.4 million purchase, first announced on Dec. 17, is set to proceed.
The company has notified Andrew Fielding of BDO Queensland, acting as joint and several agents for the mortgagee in possession, that due diligence requirements have been met.
Settlement is expected in the late second quarter, pending the resolution of outstanding issues and finalisation of legal agreements.
Auric Mining is a gold exploration and development company that controls four projects in the Widgiemooltha area of Western Australia: the Widgiemooltha Gold Project, including the company's flagship Munda gold deposit, the Jeffreys Find Gold Project, the Spargoville Gold Project and the Chalice West Project.
At the time of reporting, Auric Mining's share price was $0.235.