This came up on my alerts earlier. Looks like the deal has hit the news waves...
http://www.pressreader.com/australia/the-west-australian/20160803/281981786964617
Not sure if the link will work so have pasted below...
"Chinese-backed Primary Gold has swooped on the MacPhersons Reward mine near Coolgardie in a $10.4 million cash-andscrip deal which could resurrect the historic site next year.
Primary, in which China's Hanking Gold Mining holds a 10 per cent stake, is believed to be in talks with Focus Minerals to restart its mothballed Three Mile Hill processing plant.
The deal with Ashok Parekh's MacPhersons Resources will hit the market this morning but is understood to be for $5 million cash and 40 million shares.
It hands Primary control of 200,700 ounces of gold resources, including 83,700oz in the MacPhersons Reward pit and 53,000oz at nearby Tycho.
MacPhersons and Primary placed their shares in a trading halt yesterday. MacPhersons last traded at 11, while Primary - best known for developing the Mt Boundy gold project in the Northern Territory - was changing hands for 13.5.
Shares in Focus, which shuttered the mill three years ago and is controlled by China's Shandong Gold, have gone for a gallop recently.
After starting the year at 31.5, Focus shares have run from 45 last month to a high of 74 without a major market announcement, closing at 68 yesterday.
Kalgoorlie-based MacPhersons last week announced it would start trial open-pit mining in September at the Boorara gold project, 10km east of the Super Pit."
