Michelago and partners buy Gold Ridge

MICHELAGO is adding a 20% stake in the Gold Ridge mine in the Solomon Islands to its budding portfolio, and has ambitions to increase the stake to as high as 50% as part of a consortium that’ll potentially spend US$90 million buying and re-developing the operation that closed in 2000 due to civil unrest.

Michelago and partners buy Gold Ridge Michelago and partners buy Gold Ridge Michelago and partners buy Gold Ridge Michelago and partners buy Gold Ridge Michelago and partners buy Gold Ridge

Michelago, Ausenco (20%), Societe Generale (10%), Resource Capital Fund (20%) and Sashmo (30%) will acquire the project from American Home Assurance Co, with the last operator of Gold Ridge, Delta

loader