OceanaGold to acquire Ausgold for A$776M in shares and cash

VANCOUVER - OceanaGold Corporation has announced a deal to buy Ausgold Limited, the owner of the Katanning Gold Project in Western Australia. Shares of Ausgold will be exchanged for OceanaGold common shares, valued at A$1.36 per share, for a total transaction worth around A$776 million. Shareholders may also choose to receive cash, but only up to A$194 million.

The offer is 28% higher than Ausgold's recent closing price and 44% above its 20-day average. After the deal, Ausgold shareholders will hold 6% to 8% of OceanaGold. The transaction needs approval from 75% of Ausgold shareholders and a majority at a special meeting in late November 2026. OceanaGold plans to drill more at the site and expects production to start in 2029.