Aurelia Metals strikes gold with $200m M&A deal, raising

Aurelia Metals strikes gold with $200m M&A deal, raising

Aurelia Metals has caught the gold M&A bug and is set to pitch a chunky acquisition and equity raising to investors.

It is understood Aurelia Metals is closing in on NSW-based Dargues Gold Mine and its nearby tenements, which are owned by shareholders and associates of underground mining services contractor PYBAR Mining Services. Aurelia Metals will make about 70 per cent of its earnings from gold should it acquire Dargues Gold Mine as expected. AFR Aurelia Metals is expected to pay $200 million for the mine and tenements, including $176 million cash and $24 million scrip, and fund the deal with an underwritten equity raising.

Investment bank UBS is understood to have started lining up support for the equity raising, which would be done by way of a placement and rights issue.

Aurelia Metals has secured a $65 million commitment from lending banks Investec and BNP Paribas, which would be partly used […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet