The all-share deal values Carnaby at approximately A$213M, with shareholders receiving 0.0682 Evolution shares per Carnaby share.
Evolution Mining will acquire Carnaby Resources in a deal worth $149M, or roughly A$213M, structured as a scheme of arrangement. Carnaby shareholders will receive 0.0682 new Evolution shares for each share held, finalizing the transaction.
The acquisition follows Evolution’s strategy to expand its gold mining portfolio. No prior valuation or consensus estimates were disclosed for comparison. The deal is expected to close pending shareholder and regulatory approvals.
Market reaction details were not immediately available, with further updates pending.