The current developers of a planned open pit gold mine north of Barwick are confident the project will become a reality under new owners.
Rainy River Resources is agreeing to a friendly buy-out by New Gold.
Rainy River's Nick Nikolakakis says feels the decision to accept the deal now makes good sense.
Nikolakakis says New Gold has a good track record of developing mines and excellent management team that fits well with the Rainy River gold project.