PERTH (miningweekly.com) – The Western Australian Minister for Mines and Petroleum has given consent for gold miner Regis Resources to acquire a 30% interest in the Tropicana gold project, clearing the transaction of all conditions precedent.
Regis in April struck a A$903-million agreement with fellow-listed Independence Group (IGO) to acquire its share of the Tropicana gold joint venture (JV).
JV partner AngloGold Ashanti has already waived its pre-emptive rights over IGO’s share of the asset, allowing Regis to proceed with the acquisition.
“We are very pleased that the Minister’s approval for the tenement transfer has been received and, now that the transaction is unconditional, we look forward to completing the deal,” said Regis MD and CEO Jim Beyer.
“As I’ve said previously, this acquisition provides significant strategic benefits to Regis and when combined with our existing assets, provides a larger-scale, longer-term financial and operating platform to pursue internal and external growth opportunities.”