St Barbara said today it is acquiring Bardoc Gold for A$157 million (US$111.7 million). Bardoc shareholders will receive 0.3604 new St Barbara shares. St Barbara said that the deal is a 34.7% premium to the 30-day VWAP of Bardoc shares.
St Barbara Managing Director and CEO Craig Jetson sees operational synergies. “St Barbara has been focused on expanding our footprint within the Leonora Province to fill the mill by growing our deposits, through acquisitions and exploration. Acquiring Bardoc Gold unlocks access to extensive land packages near our Leonora Operations,” said Jetson.
“The location of the Bardoc Gold Project, situated near the rail line and highway to the south of Leonora, brings the Bardoc ore bodies within economic haulage range of our Leonora processing plant. Combined with our existing regional opportunities such as Tower Hill and Harbour Lights, the acquisition of Bardoc facilitates the accelerated delivery of a multi-decade province of satellite mines feeding the Leonora processing plant.
This provides St Barbara with significant operating flexibility and value as part of the Leonora Province Plan. We want to acknowledge the excellent work by the Bardoc team to assemble this impressive land position and progressing the Bardoc Gold Project to this point.”
In 2021 St Barbara had almost 6.2 million ounces of mineral resources, including ore reserves of 101 million ounces of contained gold.