Announcement • Aug 19

OceanaGold Corporation (TSX:OGC) entered into a definitive scheme implementation deed to acquire Ausgold Limited (ASX:AUC) from Dundee Corporation (TSX:DC.A) and other shareholders for approximately AUD 770 million.

OceanaGold Corporation (TSX:OGC) entered into a definitive scheme implementation deed to acquire Ausgold Limited (ASX:AUC) from Dundee Corporation (TSX:DC.A) and other shareholders for approximately AUD 770 million on August 17, 2026. Under the terms of the scheme, OceanaGold will acquire 100% of the issued fully-paid ordinary shares in Ausgold for scrip consideration of 0.03365 OceanaGold Shares for each Ausgold Share held at the record date for the Scheme. OceanaGold will also offer Ausgold shareholders a Cash Alternative whereby an Ausgold shareholder can elect to receive the Scheme Consideration in cash by making a cash election, subject to the total elections received for the Cash Alternative, an implied value of Scheme Consideration of AUD 1.36 per Ausgold Share, and a Maximum Cash Pool of AUD 194 million. Ausgold shareholders (other than Ineligible Foreign Ausgold Shareholders) who do not make a valid cash election will receive their Scheme Consideration entirely in the form of OceanaGold Shares. The Scheme Consideration values Ausgold's fully diluted equity value at approximately AUD 776 million (approximately $549 million). Upon implementation of the Scheme, OceanaGold shareholders are expected to own approximately 92.1% of the combined OceanaGold Group and Ausgold shareholders are expected to own up to approximately 7.9%. Ausgold may be required to pay OceanaGold a break fee of AUD 7.76 million if specified triggering events occur that result in termination of the transaction. OceanaGold intends to fund the cash consideration component of the Scheme Consideration via existing cash reserves. The transaction is subject to subject to antitrust regulations, subject to court approval, approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by target shareholders and listing / approval of new shares on stock exchange. The deal has been unanimously approved by the board. If approved by Ausgold shareholders and the Court, and the other conditions are satisfied, the Scheme is expected to be implemented and completed in December 2026. The transaction is expected to be accretive on a number of key metrics, including net asset value per share, future cash flow per share and earnings per share, once the Katanning Gold Project achieves commercial production. Canaccord Genuity Limited acted as financial advisor for Ausgold Limited. SCP Resource Finance LP acted as financial advisor for Ausgold Limited. Richard Lustig, Rick Troiano, Adrienne de Bruyn, Brandon Botting, Haran Viswanathan, David Palumbo, Victoria Lanyon, Helen Joyce, and Johnny Nguyen of Baker McKenzie LLP acted as legal advisor for Ausgold Limited. Jarden Australia Pty Limited acted as financial advisor for OceanaGold Corporation. BMO Capital Markets acted as financial advisor for OceanaGold Corporation. Russell Philip of Corrs Chambers Westgarth acted as legal advisor for OceanaGold Corporation. Automic Pty Ltd acted as transfer agent for Ausgold Limited.

Ausgold Limited Stock Price

AUC Share Price Performance

AUC Community Narratives

If gold reaches $4,000 per oz

If gold reaches $4,000 per oz

Trending Discussion

Recently Updated Narratives

If gold reaches $4,000 per oz

Snowflake Analysis

Ausgold Limited Key Details

About AUC

Recent AUC News & Updates

New major risk - Financial position

OceanaGold Corporation (TSX:OGC) entered into a definitive scheme implementation deed to acquire Ausgold Limited (ASX:AUC) from Dundee Corporation (TSX:DC.A) and other shareholders for approximately AUD 770 million.

Ausgold Limited, Annual General Meeting, Oct 13, 2026

Recent updates

Ausgold Limited Competitors

Liontown

Nickel Industries

Sunrise Energy Metals

Resolute Mining