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RNC decides against extending option to buy Westgold's South Kalgoorlie ops

Westgold Resources Ltd. on Aug. 15 said that RNC Minerals has elected not to extend its purchase option for a further six months over the former's South Kalgoorlie operations in Western Australia.

The initial six-month option period, which granted RNC a right to outright purchase South Kalgoorlie for A$80 million, expired Aug. 13.

A toll treatment agreement with RNC for 50% of South Kalgoorlie processing capacity until June 30, 2018, remains in place, Westgold noted.

The South Kalgoorlie operations include the HBJ underground mine, various open pits and the 1.2-million-tonne-per-annum Jubilee processing plant.

Westgold is currently investigating a number of joint venture and toll processing options for the company's wholly owned plant, Managing Director Peter Cook said.