OceanaGold to Acquire Ausgold in $549 Million Expansion

Under the terms of the scheme of arrangement, Ausgold shareholders will receive 0.03365 OceanaGold common shares for each share held, representing an implied value of A$1.36 per share. Investors also have the option to elect a cash payment, capped at a total pool of A$194 million. The acquisition has secured unanimous support from the Ausgold board, alongside backing from major shareholder Dundee Corporation, which holds a 7.7% stake.

Gerard Bond, President and CEO of OceanaGold, described the move as a natural fit for the company’s portfolio, noting that the Katanning project offers a high-quality, open-pit development opportunity. The project is expected to deliver over 100,000 ounces of gold annually, with production slated to begin in 2029. OceanaGold plans to leverage its existing technical expertise and balance sheet to de-risk the development of the site, which spans over 3,000 square kilometers across the underexplored Katanning greenstone belt.

For Ausgold, the agreement provides an immediate premium of 28% over the company’s last closing price, rising to 44% when compared against the 20-day volume-weighted average price. The transaction remains subject to customary regulatory approvals, including the Australian Foreign Investment Review Board, and is expected to reach completion in December 2026 following a shareholder vote scheduled for late November.