All in m&a

Vysarn to acquire waterwell drilling assets from Ausdrill

Vysarn (ASX: VYS) has entered into an agreement to acquire various waterwell drilling assets from drilling services heavyweight Ausdrill to conduct its "Connector Drilling" hydrogeological drilling business, for $16 million in cash. Peter Hutchinson-chaired Vysarn will seek re-compliance with chapters 1 and 2 of the ASX listing rules as the deal will constitute a major change in the scale and nature of the business.

White rock signs $30m farm-in agreement with Sandfire

White Rock Minerals (ASX: WRM) has joined forces with Sandfire Resources (ASX: SFR) to fund exploration and development of new high-grade zinc and precious metals volcanogenic massive sulphide deposits at the Red Mountain project in central Alaska, under an earn-in and joint venture agreement valued at $30 million. There are already two high-grade deposits at the project with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1Mt of contained zinc equivalent.

Aeris Resources confirms US$575m play for CSA mine

Aeris Resources (ASX: AIS) notes the recent Australian Financial Review article stating that Aeris is in discussions with Glencore in relation to a potential acquisition of the CSA mine, and has confirmed that it has made an offer to acquire the CSA mine from Glencore for $US575m in a mix of cash (approximately US$525m) and Aeris shares (approximately US$50m), plus a royalty payable to Glencore. The company will update the market if and when any formal agreement is entered into in relation to the proposed acquisition.

Crunch time as global gold sector consolidation plays out in Perth

Next Friday, Doray Minerals shareholders will be asked to approve a merger with Silver Lake Resources to create a $600 million, two-mine ASX-listed gold producer with pro-forma production of 240,000 ounces a year and a resource base of 4.6 million ounces. This merger of two Perth-based companies is the biggest response yet by ASX-listed stocks to global investor interest in industry consolidation.

Doray's biggest shareholder Perennial throws support behind Silver Lake merger

The largest shareholder of Doray Minerals (ASX: DRM) has thrown its significant support behind the Perth-based gold miner's $609 million scrip merger with Silver Lake Resources (ASX: SLR). Perennial Value Management has told Doray it intends to vote its 12.94% stake in favour of the merger at next week's scheme meeting. Investor feedback since Doray and Silver Lake announced their merger plan in November has been overwhelmingly positive. It comes at a time when the market is looking for consolidation in the gold sector. A merged Doray-Silver Lake will have annual production of about 240,000 ounces and about $116 million in cash and equivalents. Doray's shares have risen from 36c to 49c since the merger was announced. Silver Lake has experienced a similar share price appreciation.