Allens has advised Kirkland Lake Gold on the sale of the Stawell gold mine to an affiliate of Arete Capital Partners Ltd.
Allens advised on all aspects of the deal, which includes consideration of US$6.25 million and a 2.5 per cent net smelter return royalty on gold produced from the mine in future.
The sale is consistent with Kirkland Lake Gold's strategy to focus on its low-cost, high-grade core assets while sustaining its net smelter return royalties.
'We congratulate Kirkland Lake Gold on the sale of the Stawell mine,' said Igor Bogdanich, lead partner on the deal.
'We look forward to continuing our work with Kirkland Lake Gold as it supports its solid base of quality assets.'
The deal builds on Allens' experience as a key adviser to many of the world's largest and most innovative resources groups.
Allens legal team
Igor Bogdanich (Lead Partner), Gadi Bloch (Special Counsel), Craig Henderson (Partner)
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.