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King & Wood Mallesons has advised St Barbara Limited on its joint venture arrangement with ASX-listed Catalyst Metals Limited’s subsidiary Kite Operations that will see St Barbara manage exploration for the Drummartin gold project in Victoria.
Source: kwm.com/en/au/people/scott-langford
Firm: King & Wood Mallesons (St Barbara Limited); Undisclosed (Kite Operations)
Area: M&A, projects
Key players: The KWM team advising on the deal was led by partner, Scott Langford. Mr Langford was principally supported by KWM M&A corporate partner Will Heath, and solicitors Lachlan Fahey, Luci Kjar-Cruttenden and Jeremy Hart.
Deal significance: In this deal, St Barbara will act as manager of the project during both the earn-in and joint venture period (for so long as it holds a 50 per cent interest), and Kite will be the “on ground” operator of the project, a statement from KWM explained.
“St Barbara’s substantial shareholding in Catalyst means that the earn-in and joint venture agreement between the parties is conditional on Catalyst shareholder approval, which must be received within 90 days of the agreement being signed.”
Commenting further on the transaction, Mr Langford said: “We are delighted to have assisted St Barbara to increase its Australian exploration portfolio in line with its strategy to grow through discovery and generate highly prospective targets”.
