- Aura Minerals In (TSX:ORA) (OTC:ARMZF) agreed to acquire 100% of Big River and form an 80%/20% joint venture with Dundee Resources.
- Big River Shareholders (other than Dundee Resources) will receive A$0.36 in cash consideration for each Big River Share held, which values Big River at a purchase price of ~A$91.7 million.
- The acquisition represents an attractive opportunity for Aura to expand its pipeline of development stage projects by acquiring Big River's Borborema Gold Project in Brazil.
- Dundee Resources, a 19.3% Big River shareholder, executed a deed with Aura, under which Dundee Resources will ultimately hold a 20.0% indirect interest in Big River.
- In limited circumstances, Dundee Resources may elect to receive the cash in place of the share consideration, with Aura then acquiring 100% of Big River for 100% cash consideration.
- Price Action: ORA shares are trading lower by 2.89% at C$11.75 on TSX on the last check Tuesday.
Aura Agrees To Acquire Big River Gold; Form JV With Dundee Resources
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.