"... C Compiler? Will it translate the source code into bin or hex files?"

As this started as a BASIC question, I'm not so sure how familiar you are with the operation of a 'C' compiler - forgive me if this is stating the obvious to you.

A 'C' compiler will not accept BASIC source code; it will convert it to a (probably very large) number of error messages!
You will need to re-write your BASIC in 'C' (for which you will need to consult the manuals of both the original BASIC system, and your target 'C' Compiler).

Normally, a 'C' compiler produces a relocatable Object file; this cannot be run directly, but must be passed through a Linker/Locator to produce an absolute file which can be downloaded, or blown into PROM.
The Keil & Raisonance downloads mentioned previously include the full tool chain to achieve this.