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:: Apollo Gold to buy Stock Mill from St Andrew
Apollo Gold of Greenwood Village, Colo., plans to purchase the Stock gold mill from current owner St Andrew Goldfield of Toronto. The mill has a rated capacity of 1,300-t/d with conventional two-stage crushing, grinding, thickening and CIL circuit. The facility includes a refinery where doré bars are poured. Operations ceased in May 2007.
If the deal is completed as planned, Apollo will pay $20 million for the mill, with $1.5 million to be paid on closing and the balance by the end of June 2008.
Apollo is proceeding with the development of the Black Fox deposit 75 km east of Timmins, Ont. Owning the Stock mill will allow the company to begin treating Black Fox ore in early 2009. Both open pit and underground mines are planned.
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