Overview
- Regis Resources and Vault Minerals agreed to combine in an all-share merger that gives Vault investors 0.6947 Regis shares for each Vault share.
- The merged group is expected to produce more than 700,000 ounces of gold a year, which would place it third among ASX-listed gold miners.
- After completion, the company will keep the Regis name, with current Regis shareholders owning 51% and Vault shareholders 49%.
- The companies describe a debt-free balance sheet with about $1.44 billion in cash and a large resource base to fund growth projects.
- Early coverage reports different combined market values, with Law360 citing about $7.7 billion and the Australian Financial Review about $10.7 billion.