Saracen ceases trading
PERTH (miningweekly.com) – The shares of gold miner Saracen Mineral Holdings will cease trading on the ASX at the end of business on Wednesday, as a merger with fellow listed Northern Star becomes effective.
Saracen and Northern Star have previously agreed on a merger, which would see Saracen shareholders receive 0.3763 Northern Star shares for each Saracen share held, resulting in Northern Star shareholders holding a 64% interest in the merged entity, while Saracen shareholders would hold the remaining 36%.
The merged entity will have a pro-forma market capitalisation of A$16-billion and a net cash position of A$188-million, with an immediate production profile of 1.6-million ounces, with a pathway to increasing production to two-million ounces a year.
The merged entity will have a 19-million-ounce reserve and resources of 49-million ounces, with the company holding three large-scale production centers in exclusively Tier 1 locations.
The merger would also result in the consolidation of the Kalgoorlie Golden Mile to be consolidated under one owner for the first time in more than 125 years.
Northern Star would remain trading on the ASX, with the new shares issued to Saracen shareholders to start trading on February 15.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation