Gold Road Resources Announces Acquisition Agreement with Gold Fields

Gold Road Resources Ltd ( (AU:GOR) ) has shared an announcement.

Gold Road Resources Ltd has announced a significant development regarding its future operations. The company has entered into a binding Scheme Implementation Deed with its Gruyere JV partner, Gold Fields, which plans to acquire 100% of Gold Road’s issued share capital through a scheme of arrangement. The offer includes a fixed cash consideration of $2.52 per share, with an additional variable cash component linked to the value of Gold Road’s shareholding in Northern Star. This proposal values Gold Road at approximately $3.5 billion, or $3.35 per share, as of May 14. The board of Gold Road unanimously recommends shareholders vote in favor of the Scheme, pending no superior proposals and a favorable independent expert’s report.

The most recent analyst rating on (AU:GOR) stock is a Buy with a A$1.90 price target. To see the full list of analyst forecasts on Gold Road Resources Ltd stock, see the AU:GOR Stock Forecast page.

More about Gold Road Resources Ltd

Gold Road Resources Ltd operates in the mining industry, primarily focusing on gold exploration and production. The company is known for its involvement in the Gruyere Gold Project, a joint venture with Gold Fields, and is based in Perth, Western Australia.

Average Trading Volume: 8,020,608

Technical Sentiment Signal: Buy

Current Market Cap: A$3.45B

Find detailed analytics on GOR stock on TipRanks’ Stock Analysis page.