Key points
- Proposed combination consolidates four gold projects near Kalgoorlie, Western Australia
- Javelin shareholders to receive 11.7647 new FirstAU shares for each Javelin share
- Transaction subject to 50.1% minimum acceptance condition and other customary conditions
Full summary
First Au Limited (ASX: FAU) and Javelin Minerals Limited (ASX: JAV) have executed a binding Takeover Implementation Deed to combine FirstAU's Riverina East and Gimlet Gold Projects with Javelin's Eureka and Coogee Gold Projects, located in the Eastern Goldfields outside Kalgoorlie. The proposed combination brings together three brownfields gold projects near Kalgoorlie in Western Australia, with reported Mineral Resources totalling approximately 350,600 ounces of gold. Javelin Shareholders to be offered 11.7647 new FirstAU shares for each Javelin share, equivalent to 0.5882 FirstAU shares, following FirstAU's proposed 20:1 capital consolidation which remains subject to approval by FAU shareholders. The transaction is subject to a 50.1% minimum acceptance condition and other customary conditions.