Regency has already reached an agreement with Australian company Gold Terrace which owns GAPL Tenement.
GAPL Tenements was earlier owned by Graphite Australia and other parties.
The agreement will allow development of the neighbouring Halberts property which was earlier a graphite producing mine.
As per the deal, Gold Terrace will issue three million shares in the proposed listed vehicle, having a value of A$200000.
If Gold Terrace fails to do so, then it has to pay A$200,000 to Regency within 54 weeks of execution of the deal.
Regency Mines chairman Andrew Bell said: "The conclusion of the GAPL liquidation process allows us to exchange our interests in the area for an interest in a project whose management has a record of successfully bringing mines into production.
"This is an established quality deposit with a mining history and an existing mining license. There is a good chance that this will grow to be a valuable asset."
