Regis Resources Ltd to Enter Binding Agreement to Acquire 30% Interest in Tropicana Gold Project from IGO Ltd Transcript
Thank you for standing by, and welcome to the Regis Resources Limited Conference call. (Operator Instructions)
I would now like to hand the conference over to Mr. Jim Beyer, Managing Director and CEO. Please go ahead.
Thanks, Harmony, and thanks, everybody, for joining us this morning. Regis is very pleased to announce that it signed a conditional binding agreement with IGO to acquire its 30% interest in the Tropicana Gold Project. This will be with an effective date of the 31st of March, 2021, and for a cash consideration of $903 million. This is genuinely transformational -- or this is a genuinely transformational transaction for Regis, and it's one that we'll deliver on our strategic objectives to grow as a safe, responsible, reliable, long-life, low-cost gold producer that generates strong financial returns. Tropicana is a low-cost, high-margin, top 5 producing Australian open pit and underground gold mine. That's located in the Albany-Fraser belt here in WA. It's one of the largest gold
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