Australia's Regis to Take over Vault, Creating $7.7 Billion Gold ...
The merged gold producer would unlock over A$500 million in tax benefits and lift annual output to 700,000 ounces, executives said.
- On Tuesday, Regis Resources announced it will acquire Vault Minerals in an all-scrip deal valued at A$5.15 billion, creating Australia's third-largest listed gold producer with five operating mines in Western Australia.
- Surging bullion prices over the past year have encouraged consolidation among mid-tier producers, mirroring last year's A$2.4 billion acquisition of Spartan Resources by Ramelius Resources.
- The combination is set to unlock over A$500 million in corporate tax benefits and improve procurement costs, executives said on Tuesday; Regis shareholders will own around 51% and Vault shareholders approximately 49%.
- Vault shares jumped 6.4% following the announcement, reflecting a 10.7% premium to Monday's last close of A$4.50, while Regis stock fell as much as 6.1% to a one-month low.
- Regis CEO Jim Beyer will lead the merged entity, which targets 700,000 ounces of annual gold production, as Broker Ord Minnett called the deal a positive step for portfolio growth.
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Australia's Regis to merge with Vault, creating US$7.7bil gold producer
KUALA LUMPUR: Australian gold producers Regis Resources and Vault Minerals will merge in an all-stock deal, the companies said on Tuesday, creating a combined entity valued at around A$10.7 billion (US$7.67 billion).
Regis, Vault Ink US$7.7 Billion Merger to Create Australia's Third Top Gold Miner
Australian gold miner Regis Resources (ASX:RRL,OTCPL:RGRNF) has agreed to acquire Vault Minerals (ASX:VAU,OTCPL:REDLF) in an all-share transaction valuing the combined entity at US$7.7 billion.The deal will establish Australia’s third largest primary gold producer, merging two portfolios into a single operational base spanning multiple hubs across Western Australia, New South Wales and Ontario, Canada.Regis brings its Duketon complex in Western …
Regis Resources to Acquire Vault Minerals
Regis Resources Ltd. and Vault Minerals Ltd. have agreed to combine via a merger-of-equals, under which Regis will acquire all shares of Vault. The transaction would create Australia’s third-largest listed gold producer with a diversified portfolio of high-quality, long-life assets in Western Australia and Canada, valued at approximately $7.67 billion. Upon closing, Regis shareholders will own approximately 51% and Vault shareholders will own ap…
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