OceanaGold to acquire Ausgold for A$776 million

OceanaGold has signed an agreement to acquire Ausgold Limited, the owner of the Katanning Gold Project in Western Australia. The transaction is valued at approximately A$776 million (roughly $549 million USD).

Under the proposed scheme of arrangement, Ausgold shareholders will receive 0.03365 OceanaGold shares for each Ausgold share held, with a limited cash option capped at approximately A$194 million ($137 million USD). Following the deal, Ausgold shareholders are expected to hold between 6% and 8% of OceanaGold.

The Katanning Gold Project is an open-pit development expected to produce over 100,000 ounces of gold annually with an initial 10-year mine life. OceanaGold aims to begin gold production at the site by 2029. The acquisition marks OceanaGold’s first expansion into Australia and is intended to bolster its production profile.

The deal is subject to shareholder approval and court authorization, with a projected closing date in December 2026.