UK-based Altitude said deals in the UK and France were imminent and first footage will be shown during the Cannes virtual market later this month.
Efron and Hayes play two strangers who stumble across the biggest gold nugget ever found when travelling through the desert and hatch a plan to protect and excavate their bounty.
John Schwarz and Michael Schwarz are producing through their Australian company Deeper Water Films, alongside Hayes for Rogue Star Pictures.
The film will be Hayes’ second directorial feature, after 2008 drama Ten Empty.
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