OceanaGold acquisition of Ausgold

OceanaGold Corporation has entered into a definitive agreement to acquire 100% of Ausgold Limited for approximately A$776 million (US$549 million). The acquisition, structured as an Australian court-approved scheme of arrangement, includes the Katanning Gold Project in Western Australia.

Under the terms of the deal, Ausgold shareholders will receive 0.03365 OceanaGold shares for each Ausgold share held, valued at A$1.36 per share. Shareholders may also choose a cash settlement, though this is subject to a maximum cash pool of A$194 million. The offer represents a premium of approximately 27.7% over Ausgold’s recent share price.

Ausgold’s Board of Directors has unanimously recommended the merger, with support indicated by major institutional investors such as Dundee Corporation. To maintain operational continuity during the transition, OceanaGold has committed to providing Ausgold with a A$20 million bridging loan in November 2026. The Katanning Gold Project is an open-pit development expected to produce over 100,000 ounces of gold annually with a mine life exceeding 10 years, with first production targeted for 2029.