Grace Quigley
Manager External Comms •
Sydney
Media release: Clayton Utz advises TSX-listed Mandalay Resources on its merger with ASX-listed Alkane Resources creating a A$1 billion gold producer
1 minute
Clayton Utz has advised Canadian based Mandalay Resources Corporation (TSX:MND) on its approximately A$559 million all-share merger with Alkane Resources Limited (ASX:ALK). The deal will create a combined diversified gold and antimony producer valued at over A$1 billion.
The merger brings together portfolios across three producing assets. Mandalay’s Costerfield mine in Victoria and Björkdal mine in Sweden, as well as Alkane’s Tomingley operations in New South Wales. The combined entity is expected to produce 160,000 gold-equivalent ounces in 2025, increasing in 2026 to over 180,000 ounces.
The transaction was structured as a merger of equals with Mandalay and Alkane shareholders owning approximately 55% and 45%, respectively, of the merged entity.
Clayton Utz Partner and Head of Corporate M&A Rory Moriarty led the complex, cross-border transaction, supported by Special Counsel Samuel Pullin, Senior Associate Chamali Samarasinghe and lawyers, Rachel Hurwitz and James Artemi, as well as key support from Clayton Utz Tax team members, Peter Feros and Alex Melara and Projects partner Katy Warner.
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Disclaimer
Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.