MinesOnline.com Reviews Evolution’s Acquisition of Northern Star’s Eastern Goldfields Assets
- A 100% interest in the Kundana Operation (Kundana);
- a 51% interest in the East Kundana Joint Venture (EKJV);
- a 100% interest in tenements comprising the Carbine Project (Carbine); and
- a 75% interest in the West Kundana Joint Venture (WKJV) (together, the Acquisition Assets) (the Transaction).
The Transaction will be subject to the receipt of all consents required under the WA Mining Act to transfer legal title of the Acquisition Assets to Evolution, with the completion date expected in late August 2021.
The Acquisition Assets form part of Northern Star’s current portfolio of Operations and as such, MinesOnline.com has reviewed the Transaction on an Operations basis.
Based on the Transaction Consideration of US$296M and a 579koz Au Ore Reserve, Evolution will pay US$511/oz Au, representing a premium of 189%, 85% and 86% to MinesOnline.com’s 1, 3 and 5 year normalised average Operational Reserve multiples of US$177/oz Au, US$276/oz Au and US$275/oz Au, respectively.
Set out below is a summary of MinesOnline.com’s Transaction Metrics Analysis:
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