Gold Road Resources Limited (ASX:GOR) has closed its off-market takeover offer for all the ordinary shares in DGO Gold Limited, in line with the company’s previously flagged deadline of 7pm (Sydney) on June 30.
Gold Road currently has a relevant interest in 97.86% of DGO’s shares.
As announced on June 24, Gold Road has commenced the compulsory acquisition process for
the remaining DGO shares on issue and will update promptly after completion of the compulsory
Gold Road has already begun the process of integrating DGO into its business with the appointment of senior executives to the takeover target’s board.
DGO owns stakes in several ASX-listed gold stocks and also has a portfolio of exploration properties. The key asset in DGO’s portfolio is a 14.4% stake in De Grey Mining (ASX: DEG).
It was the De Grey stake that most attracted Gold Road, which owns 50% of the world-class Gruyere gold mine in WA’s north-eastern Goldfields, to DGO.
De Grey is progressing resource and study work on the Mallina gold project in the Pilbara, which includes the monster Hemi deposit. Hemi is the best new gold discovery in Australia since Gold Road found Gruyere in 2013.