Queensland gold mine for sale

A gold mine in Georgetown in central far north Queensland has been listed for sale for $5.5 million.

Located around 380 kilometres west of Cairns, the gold mine covers part of the historic Etheridge Goldfield, Georgetown and the Palmer River.

The sale will secure the leases and some of the mining equipment.

Potential investors can make an immediate start to produce gold with a lease to Project Management Company in place.

The company have the experience, skill and knowledge to run a successful gold mine.

They have projected a return of 3445 troy ounces in the first year, which at the current sale price is equal to $6,039,085.

Year two and year three are projected to return 6891 troy ounces per annum, which would yield $12,237,693.

The world-wide gold price at $1,753 per troy ounce.

The current owner is nearing retirement having purchased the lease in 2009.

It's been listed through LJ Hooker Mooloolaba agents Jim Hughes and Yasna Hawthorne. 

The gold mine yielded 0.7 million troy ounces of gold between 1877 and 1920.