Case Studies

Transformational acquisition of gold mine and associated capital raising

Piper Alderman advised Catalyst Metals on the $49 million transformational acquisition of the Henty gold mine in Tasmania and associated capital raising.

Team: Erin McCarthy, Sarah Clarke, Daniel Harris

Service: Capital Markets & Capital Raisings | Corporate & Commercial | Mergers & Acquisitions
Sector: Energy & Resources | Mining

Piper Alderman assisted ASX listed Catalyst Metals Limited (Catalyst) on its acquisition of Unity Mining Pty Ltd, which owns 100% of the Henty gold mine in Tasmania, together with an associated capital raising.

Henty gold mine is a high-grade, underground gold-silver deposit with established infrastructure and significant exploration upside in the mineral rich Mt Read Volcanic Belt, which has historically produced over 8M ounces of gold.

The acquisition of the Henty gold mine in Tasmania was a transformational acquisition that has accelerated Catalyst from a gold exploration company to a gold producer, creating an east coast gold platform.

The Piper Alderman team, led by Sarah Clarke, was well placed to provide Catalyst with due diligence investigations, advising on the acquisition, negotiating acquisition documentation, advising on and negotiating ancillary agreements, such as labour hire agreement and transitional services agreement. Sarah received support from other specialised teams at Piper Alderman, including Employment (Erin McCarthy) and Banking & Finance (Daniel Harris).
As part of the transaction, Catalyst also undertook a capital raising via private placements and a share purchase plan to raise $24 million. Placement participants included major gold companies St Barbara Limited and Kirkland Lake. Piper Alderman advised on all aspects of that capital raising.