In a $475m deal, mining development and exploration company Greatland acquired the 70% of the Havieron gold-copper project which it did not own, and the Telfer gold-copper mine and processing plant - both located in Australia - from US-based Newmont Corporation.
The acquisition was part-funded through raising $325m from investors through a placing, which completed in September and Newmont has also become a major shareholder in Greatland.
Following completion of its acquisition from Newmont, Greatland completed its readmission on AIM, where it had a market capitalisation on re-admission of $945m.
Simmons advised Greatland on the placing, English law and AIM aspects of its acquisition and its AIM readmission. The team was led by partner in the firm's Public Markets Group, Alexander Keepin, supported by supervising associate Holly Vaudry and associate Lucy Macdonald.
Alexander Keepin commented: "Greatland's successful acquisition of the world class Havieron project and the renowned Telfer mine and processing is transformational for the company. It was a privilege to work with the team as Greatland became a gold producer with a market capitalisation of nearly $1bn."
