OceanaGold to Acquire Ausgold for A$776M

Under the terms of the deal, Ausgold shareholders will receive 0.03365 common shares of OceanaGold for each share held, representing a 28% premium over the last closing price. Investors also have the option to elect a cash alternative, capped at a maximum pool of A$194 million. The acquisition, unanimously recommended by the Ausgold board, is expected to close in December 2026, subject to regulatory and shareholder approval.

Gerard Bond, CEO of OceanaGold, described the Katanning project as a high-quality, low-capital asset that integrates seamlessly into the company's existing portfolio. The project, located in a Tier-1 mining jurisdiction, is expected to reach first gold production by 2029. Ausgold’s Executive Chairman, John Dorward, noted that the deal provides shareholders with immediate value and de-risks the project’s development by leveraging OceanaGold’s financial and technical scale. OceanaGold intends to use the Katanning site to bolster its production pipeline, which already includes operations in the United States, New Zealand, and the Philippines.