OceanaGold expands to Australia with $553M Ausgold buy

AI desk brief

OceanaGold is buying Australia’s Ausgold for A$776 million ($553 million), paying A$1.36/share in cash or stock and offering a 27.7% premium to Friday’s close. The deal gives OceanaGold its first Australian asset and control of the Katanning gold project in Western Australia, while adding another development project to its growth pipeline.