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OceanaGold Buys Ausgold in $549M Deal for Katanning Gold Project

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Sig4.25Sen-0.65Env0.00Soc0.00Gov-1.35

OceanaGold will acquire Ausgold for $549 million, gaining ownership of Western Australia’s Katanning Gold Project and marking its first purchase in Australia. The development-stage asset is not expected to produce until at least 2029, but Ausgold’s 3,000+ sq km of underexplored land offers exploration upside. Ausgold holders receive a 28% premium and will own 6%–8% of the combined company, diluting current OceanaGold shareholders; Dundee, with about 7.7% of Ausgold, will vote in favor.

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