Kalgoorlie Ore Treatment Company Pty Ltd. entered into a non binding term sheet agreement to acquire Hake and Boorara North Tenements from Balagundi Gold Pty Ltd. and Northern Mining Ltd (ASX:NMI) for AUD 0.14 million in stock on July 12, 2013. MacPhersons Resources, parent of Kalgoorlie Ore Treatment Company issued 0.71 million shares to Northern Mining and 0.19 million shares to Balagundi Gold as consideration.