https://www.miningweekly.com

AuStar/Centennial deal gains traction

26th November 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed AuStar Gold’s acquisition of Centennial Mining has been approved by both the Court and the Australian Securities and Investment Commission.

AuStar in September this year announced a deed of company arrangement (DOCA) to acquire Centennial, which owns the A1 Gold mine, and which went into administration in March this year.

Under the terms of the takeover offer, AuStar will contribute A$2.4-million in cash to the DOCA, closing the Centennial administration.

Prior to the completion of the DOCA, Centennial and AuStar will enter into a merger agreement, under which AuStar would allocate more than 24.98-million shares, or 31.7% of the company’s total shares, to Centennial shareholders.

AuStar on Tuesday said that the company continued to progress the transaction, which is expected to deliver significant regional consolidation and increase the company’s ore resources while delivering corporate synergies.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION