AngloGold clears FIRB hurdle in A$101m Lake Carey gold deal
Gold major AngloGold Ashanti has received approval from Australia’s Foreign Investment Review Board (FIRB) for its proposed acquisition of Matsa Resources’ Lake Carey project in Western Australia, marking a milestone in the A$101-million transaction.
The FIRB approval was a condition precedent to the deal, and with it now satisfied, AngloGold has cleared its final specific hurdle to proceed with the acquisition.
Matsa, for its part, is progressing with the remaining conditions, including securing written waivers from all right-of-first-refusal holders over tenements included in the deal.
AngloGold entered into an option agreement with Matsa in February to acquire the majority of the Lake Carey project, which is located near its Sunrise Dam operations. The deal followed 12 months of negotiations and grants AngloGold an 18-month option period over the strategic gold asset.
Lake Carey has a global resource of 949 000 oz at 2.5 g/t and reserves of 104 000 oz at 2.4 g/t. Matsa will retain ownership of several key assets, including the Devon Pit, Fortitude North, and the Red October accommodation village.
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