According to the letter of intent that the acquisition firm signed, half of the interest in the gold mines of Sierra County is now fully owned by the mining company.
The Kate Hardy Mine and Omega Mine Properties located near the northern end of the historic Mother Lode district are the two mines listed in the pact.
The Kate Hardy mine, operated for about 80 years, reportedly produced an estimated 25,000 to 30,000 ounces of gold, from 25,000 to 30,000 tons of mined material.
The company anticipates that it will be able to maximize gold production in the coming years, according to the recent reports.
