Western Australia based US Nickel (ASX: USN) now has a clearer timetable for the completed takeover of the Bullant Gold project from Argent Minerals (ASX: ARD).
The US Nickel purchase of Bullant has dealt the company into the gold producing sector, and direct exposure to the development of Bullant.
Argent shareholders will vote on the resolutions at a general meeting on 28 February, with the US Nickel general meeting to be held at a later date, and if shareholders approve, then the takeover would conclude in late March or early April.
Under the takeover, US Nickel will issue 44 million shares to Argent shareholders and consent to the cancellation of 19.5 million Argent shares held by US Nickel.
The Bullant underground gold mine and associated tenements are located 65 kilometres from Kalgoorlie, Western Australia, with site facilities and equipment included in the transaction.
Bullant is forecast to produce ore in the first half of 2011, with scope for increases in resources with deeper drilling below current mine levels.
If depth extensions are proven, Bullant could have a possible 8 to 10 year mine life.
The mine site is serviced by an extensive network of roads, power and water, with a broad range of mining and exploration services readily available in the Kalgoorlie region.