Taurus Funds Management will offer to buy West Australian lead and silver hopeful Abra Mining out of administration under a turnaround plan that will include a promise from the specialist resources industry lender to pay for the upgrade of public roads in the outback.

Abra Mining owed more than $350 million to about 200 creditors when it collapsed into administration 12 months ago, after a slower-than-expected ramp-up of its eponymous mine in the remote Gascoyne region.