Battle Mountain Gold (NYSE) has held discussions with Australian-listed Mt. Edon Gold Mines concerning a possible merger.
Mt. Edon owns the Tarmoola gold mine in the Leonora region of Western Australia.
In early 1995, Mt. Edon took over another Aussie company, Consolidated Resources, whose assets included the Nevorla gold mine, the Edjudina gold project and various other assets in Queensland and Western Australia.
With this takeover, Mt. Edon is expected to produce 170,000 oz. a year. Its resources now amount to 2.7 million oz. gold.
Battle Mountain is no stranger Down Under. It controls the Pajingo gold-silver mine in Queensland, and owns a 50.5% interest in Niugini Mining, which owns the Red Dome gold mine, also in Queensland. And in nearby Papua New Guinea, it has a 30% interest in the Lihir gold mine.
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