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Bendigo and BCD to merge

Bendigo and BCD to merge

Australian-listed gold producers Bendigo Mining and BCD Resources NL, formerly known as Beaconsfield Mining, have agreed to merge.The merger, which will be completed via a scheme of arrangement,…

Australian-listed gold producers Bendigo Mining and BCD Resources NL, formerly known as Beaconsfield Mining, have agreed to merge.

The merger, which will be completed via a scheme of arrangement, will create a significant mid-tier gold mining business.

Bendigo, advised by Minter Ellison, will acquire all ordinary shares in BCD, advised by Mills Oakley.

BCD shareholders will receive 0.72 Bendigo shares for each BCD share held, thus implying a combined market capitalisation of $162 million.

Shareholders are expected to vote sometime in November this year.

Bendigo owns and operates two underground gold mines including the Kangaroo Flat Mine in Bendigo, Victoria and the Henty Gold Mine on the West Coast of Tasmania.

The company is also involved in gold exploration in West Africa through GoldStone Resources Limited.

BCD owns the Tasmania Mine in northern Tasmania.

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