Northern Star Resources (ASX:NST) set to acquire 50% of Super Pit

Company News

by Rachael Jones

Northern Star Resources (ASX:NST) is set to acquire 50 per cent of Western Australia's Super Pit gold mine.

They are looking to raise US$765 million to fund its purchase of Newmont Goldcorp's 50 per cent stake.

The acquisition price is $US800 million that’s $1.16 billion which will be funded via the raising proceeds and another $480 million in debt.

They have entered into a binding sale agreement with Newmont Goldcorp Australia, a subsidiary of Newmont Goldcorp Corporation, to acquire all the shares in Kalgoorlie Lake View which holds a 50 per cent interest in Kalgoorlie Consolidated Gold Mines and in the operations and assets managed by them – including the Super Pit.

Shares in Northern Star Resources (ASX:NST) are currently in a trading halt - Last traded at $9.65.