ERO Mining (ASX: ERO) has decided to commit to the sale of its Georgetown gold operations in Queensland following the review of a number of alternative strategies with respect to the project.
After receiving unsolicited expressions of interest in purchasing the operations, the company believes that the sale of the project is in the best interests of its shareholders.
Site inspections by interested purchasers are scheduled to commence in mid September 2010 and shareholders will be updated on the sale process following these visits.
Adelaide Equity Partners will be managing the Georgetown sale process.
Kevin Lines, managing director, said the planned exploration drilling program over the True Blue/Tunnels prospects will be suspended until the outcome of the sale process is clarified.