Kidman sells Burbanks for A$4.5m

Gold and lithium company Kidman Resources has reached a binding agreement to sell its Burbanks gold mine, in Western Australia, to emerging gold miner Resources and Energy Group for A$4.5-million. The ASX-listed company agreed to pay A$2.5-million by way of a convertible note and A$2-million in cash for the Burbanks mine, which Kidman placed on care and maintenance in August to focus its resources on the Mt Holland gold and lithium projects near Southern Cross.