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Southern Gold, Westgold in deal to develop Cannon underground mine

Creamer Media Senior Deputy Editor
Australian gold producer Southern Gold has entered an agreement with development partner Westgold Resources for the underground development phase at the Cannon gold mine, near Kalgoorlie, Western Australia. Westgold will pay Southern Gold A$1.5-million upfront for a five-year right-to-mine within a defined area at the Cannon gold project, as well as a production payment on a dollar per troy ounce of gold produced.

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