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OceanaGold Announces Acquisition of Ausgold
The deal gives Ausgold shareholders 0.03365 OceanaGold shares per share and a cash option, with the target expected to own 6% to 8% of OceanaGold.
- On Monday, August 17, 2026, OceanaGold Corporation announced a binding scheme implementation deed to acquire Ausgold Limited for approximately A$776M, gaining control of the Katanning Gold Project in Western Australia.
- OceanaGold aims to leverage its technical expertise to optimize Katanning, a conventional open-pit development project with more than 100,000 ounces of annual gold production potential and first gold expected in 2029.
- Ausgold shareholders will receive 0.03365 OceanaGold shares per Ausgold share, representing a 28% premium to the last closing price and a 44% premium to the 20-day VWAP as of August 14, 2026.
- The Ausgold Board unanimously recommended the transaction, while major shareholder Dundee Corporation, holding approximately 7.7% of Ausgold, confirmed its intention to vote in favor of the Scheme.
- OceanaGold extended an A$20M bridge loan to Ausgold to assist with expenditures prior to closing, with the transaction expected to be implemented and completed in December 2026.
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OceanaGold expands with $553M Ausgold buy
Canadian gold and copper producer OceanaGold (TSX, NYSE: OGC) is buying Australia’s Ausgold (ASX: AUC) for A$776 million (almost US$553 million), giving the miner its first acquisition in Australia and... The post OceanaGold expands with $553M Ausgold buy appeared first on The Northern Miner.
OceanaGold completely bought the rival Ausgold, owner of the Katanning gold project in Western Australia, through an arrangement plan approved by Australian Justice. Exclusive material for subscribers. To have full access, access the link of the material and register.
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Total News Sources18
Leaning Left1Leaning Right4Center8Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
C 61%
R 31%
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