OceanaGold to acquire Ausgold for US$549 million

OceanaGold Corporation has agreed to acquire Ausgold Limited in a transaction valued at approximately US$549 million (A$776 million). The deal, which is expected to close in December 2026 following shareholder and regulatory approval, will grant the Canadian gold producer full ownership of the Katanning Gold Project in Western Australia.

Under the terms of the agreement, Ausgold shareholders will primarily receive OceanaGold shares, with an option for a cash component capped at approximately US$137 million. Following the transaction, Ausgold shareholders are expected to hold between 6% and 8% of OceanaGold. The Katanning Gold Project is projected to produce over 100,000 ounces of gold annually with an initial mine life of roughly 10 years, targeting first gold production in 2029.