Aug 17 (Reuters) – Canadian gold and copper producer OceanaGold (OGC.TO), plans to acquire Australia’s \u200bAusgold (AUC.AX), in a deal valued \u200cat A$776 million ($552.74 million), the companies said on Monday.<\/p>\n
Here are some details:<\/p>\n
The \u200bdeal represents a premium \u200bof 27.7% to Ausgold’s previous close \u2060on Friday and gives OceanaGold \u200bownership of the Katanning project \u200bin Western Australia.<\/p>\n
Trading in Ausgold’s shares was halted earlier in the day ahead \u200bof the announcement.<\/p>\n
Ausgold shareholders will \u200bown about 6% to 8% of OceanaGold \u200cupon \u2060completion of the deal.<\/p>\n
“This marks our first acquisition in Australia, and we are excited to build \u200bon the \u200bgreat work \u2060done by the Ausgold team to further optimize \u200bthe development of the \u200bKatanning \u2060Gold Project for the benefit of both OceanaGold and Ausgold shareholders,” \u2060OceanaGold \u200bCEO Gerard Bond said.<\/p>\n
($1 = \u200b1.4039 Australian dollars)<\/p>\n
Reporting by Sathvi G Bhat \u200bin Bengaluru; Editing by Sherry Jacob-Phillips<\/p>\n
Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"Aug 17 (Reuters) – Canadian gold and copper producer OceanaGold (OGC.TO), plans to acquire Australia’s \u200bAusgold (AUC.AX), in…\n","protected":false},"author":2,"featured_media":172460,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6244,6232,17,6237,6239,6231,6242,6235,6233,6236,381,1632,6243,6234,6223,6245,6228,6246,6230,6225,6226,6224,6227,113,6229,6241,6247,1633,6240,6238],"class_list":["post-172459","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-bank-forecasts","tag-bitcoin-news","tag-canada","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-tech-metals","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/172459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=172459"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/172459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/172460"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=172459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=172459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=172459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}