OceanaGold to Acquire Ausgold for $549M, Adding Katanning Gold Project

Published Aug 22, 05:01 AM UTC

OceanaGold (TSE:OGC) has agreed to acquire Ausgold Limited, owner of the Katanning Gold Project in Western Australia, in a transaction valued at $549 million. The deal will add a fifth asset to OceanaGold's portfolio, with Katanning projected to produce over 100,000 ounces of gold annually for an initial 10-year mine life, targeting first production in 2029. Ausgold shareholders will primarily receive OceanaGold shares, with a cash option capped at $137 million. The Ausgold board unanimously recommended the scheme, and major shareholder Dundee Corporation intends to vote in favor. The transaction is expected to close in December 2026. OceanaGold reports $655 million in cash and no debt, and expects to fund the acquisition and development without delaying other growth projects.