OceanaGold to Acquire Ausgold for A$549 Million

3-line summary

• OceanaGold agreed to acquire Ausgold, owner of the Katanning Gold Project in Western Australia, via an Australian court-approved scheme of arrangement expected to conclude by December 2026, according to a Yahoo Finance report.
• Ausgold shareholders will be offered 0.03365 OceanaGold shares per Ausgold share (A$1.36 per share based on OceanaGold's August 14 close), with cash consideration also available up to a capped A$194 million pool; if completed, Ausgold shareholders would hold 6-8% of the enlarged company.
• Ausgold's board unanimously recommended the deal, and major shareholder Dundee, which holds 7.7% of Ausgold shares, signaled support; OceanaGold CEO Gerard Bond called the Katanning project an 'advanced, high-quality, low-capital, open-pit development asset.'

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