Elmore has executed a contract with Territory Minerals Trading Ltd. to process gold and antimony ore from Territory's suite of gold and antimony projects in the Hodgkinson Basin, far north Queensland. The projects are located in two main regions: Tregoora Project is centred 130 km north west from Cairns and 100 km west-northwest from Mareeba and covers approximately 305 square kilometres. Northcote Project is centred 25 km west of Mareeba, 100 km west from Cairns and approximately 80km south of the Tregoora Project. The tenements cover approximately 203 square kilometres and more than 40 strike kilometres of mineralised structures have been found to exist within the Northcote Project region. The process flow will include: 2 stage Crushing - Grinding - Gravity Separation - Flotation - Leaching of concentrates. For the protection of both parties, the contract has a number of conditions precedent that must be satisfied before Elmore will commence ordering, constructing and delivering the major plant. This has been designed and scheduled in a way that provides Elmore with the greatest chance of utilising equipment finance facilities rather than equity funds to purchase any new equipment required to meet the contract.