Allion Legal and Allens Arthur Robinson have advised on a $600 million merger of mining and resources companies.
Allion advised Adamus Resources and Allens advised Endeavour Mining Corporation on a merger implementation agreement to combine the companies (through an all-stock merger of equals transaction) and create a new growth-focused West African gold producer.
The newly merged entity has forecast pro forma 2011 gold production of 172,000 ounces from two mines (Youga Gold Mine in Burkina Faso and Nzema Gold Mine in Ghana) and a gold production rate expected to be approximately 250,000 ounces by the end of 2013 from existing assets.
An acquisition growth strategy is also in place to more than double this gold production rate by the end of 2013.
The merger will be implemented as a Scheme of Arrangement under the Australian Corporations Act and is subject to regulatory, Australian court, shareholder and third party approvals.
Allion principals Phil Lucas and Simon Rear led the Adamus Australian counsel, supported by solicitor Chris Rosario.