Crocodile Gold has purchased the properties through the acquisition of all the shares of Northgate Australian Ventures Corporation from AuRico Gold.
The deal was earlier revealed in March and is being finalized at about C$65m, which comprised C$55m in cash and C$10m in stock.
Crocodile Gold president, CEO and chairman Chantal Lavoie said, "The two mines will add meaningfully to Crocodile Gold’s near-term production as our Cosmo mine continues to ramp up to steady state."
With the acquisition, Crocodile Gold increased its production forecast for 2012 to 230,000-250,000 ounces of gold, by about 200%.
