PERTH (miningweekly.com) – The merger between ASX-listed AuStar Gold and White Rock Minerals has been implemented.
The two companies earlier this year struck a merger agreement under which White Rock would acquire AuStar through the issue of 0.78 of its own shares for every AuStar share held.
Eligible AuStar listed option holders have been issued one new White Rock option exercisable at 77c each, for every one AuStar listed option held.
AuStar would cease share trading on the ASX at the end of business on Thursday, and an application will be made to remove the company from the official list of the ASX, which is expected to take effect from August 24.
The merged group will retain the name White Rock Minerals and will be a diversified gold explorer and producer, with assets in the Walhalla-Woods Point gold belt, in Victoria, the Red Mountain silver/zinc/gold project, in Alaska, and the Last Chance and Mount Carrington projects, in New South Wales.