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AuStar consolidates ownership of Rose of Denmark gold mine

AuStar Gold Ltd. purchased the remaining 51% stake in the Rose of Denmark gold mine in Victoria, Australia, from Shandong Tianye Real Estate Development Group Co. Ltd.

The company said June 13 that it paid A$225,000 in shares and 45 million unlisted options for the deal, which includes other nearby gold projects located on mining license MIN 5299, including Hunts and Dempsey.

The Rose of Denmark mine is about 22 kilometers from the company's gold processing plant at the Morning Star mine.

The mine has historically produced 37,000 ounces of gold at an average 12.5 g/t of gold, sourced from within the surface adits and from a deeper production shaft.