Denver-based USMX (NASDAQ) is close to completing the purchase of the Goldstrike mine near St. George, Utah, from owner Tenneco Minerals.
James Knox, president of USMX, said negotiations are at an advanced stage and a purchase agreement should be concluded shortly, assuming a number of remaining issues are resolved.
The Goldstrike open-pit heap-leach mine is currently producing about 38,000 oz. gold per year at an average operating cash cost of US$240 per oz.
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