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Castlemaine Goldfields acquires Ballarat Gold Project

Castlemaine Goldfields acquires Ballarat Gold Project

Baker & McKenzie has acted for Castlemaine Goldfields Limited in conjunction with corporate advisers RFC Corporate Finance Limited on the acquisition of the Ballarat Gold Project and the…

Baker & McKenzie has acted for Castlemaine Goldfields Limited in conjunction with corporate advisers RFC Corporate Finance Limited on the acquisition of the Ballarat Gold Project and the associated $32 million capital raising.

Lawyers from Baker & McKenzie's Melbourne office advised Castlemaine Goldfields on the acquisition, which settled on 7 May 2010, following its announcement on 5 March 2010.

Work included negotiating the transaction documentation with Lihir Gold Limited (represented by Blake Dawson), placing and sharing purchase plan documentation raising $32 million, as well as Castlemaine Goldfields' shareholder approval and associated documentation.

Partners Richard Lustig and John Mollard led the team, and were supported by Dora Stilianos and Jeremy Saw.

The RFC Corporate Finance team was led by managing director Rob Adamson and executive director Will Souter.

Gary Scanlan, CEO of Castlemaine Goldfields, said he considers that the deal is a transforming one for the company and believes the project has excellent potential.

Commenting on the deal, Richard Lustig said, "The Ballarat Gold Project is an icon, and we have had a strong connection to it over many years."

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