Stavely Minerals Ltd. said March 22 that it agreed to acquire the 350,000-tonne-per-annum Beaconsfield gold plant in Tasmania from BCD Resources NL through subsidiary Stavely Tasmania Operations Pty. Ltd.

A$250,000 deposit is due upon deal execution, and a further A$1.8 million cash payment is due within 90 days of execution. A$500,000 environmental bond will be replaced when the transaction is complete and the mining lease is transferred.

The acquisition is part of a broader strategy in Tasmania as Stavely received a priority application right for an exploration license covering the Mathinna Goldfield in the country in November 2018 after submitting a tender for the property in August 2018.