NewsHK
Western Australian gold development is drawing intermediate producers back to the capex table.
OceanaGold Corporation (TSE:OGC) agreed to acquire Ausgold Limited in a transaction valued at $549 million, adding the Katanning Gold Project as a fifth operating asset to a portfolio that already spans the United States, New Zealand, and the Philippines.
Ausgold shareholders will receive OceanaGold shares, with a cash alternative subject to a $137 million cap.
The Ausgold board recommended the scheme unanimously, and major shareholder Dundee Corporation, together with the board, controls approximately 9.1% of Ausgold shares and has indicated it intends to vote in favor.
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