The acquisition values Ausgold at A$776m, expanding OceanaGold’s portfolio with Western Australia’s Katanning Gold Project.
OceanaGold will acquire Ausgold through a court-approved scheme of arrangement, valuing the target at approximately $549m (A$776m). The deal offers Ausgold shareholders 0.03365 OceanaGold shares per share, equivalent to A$1.36 based on the acquirer’s August 14 closing price.
Ausgold’s Katanning Gold Project, an open-pit development in Western Australia, will become OceanaGold’s fifth asset. The transaction requires shareholder and regulatory approvals, with completion expected by December 2026. A cash consideration option is capped at A$194m.
Ausgold’s board unanimously supports the deal, with major shareholder Dundee also backing the scheme. Post-acquisition, Ausgold shareholders will hold 6%-8% of OceanaGold’s enlarged share base.