AngloGold Ashanti has announced a definitive agreement to acquire Augusta Gold Corp. in a deal valued at approximately C$152 million (US$111 million), marking a strategic move to consolidate its footprint in the Beatty District of Nevada—one of the most promising gold regions in North America.
The all-cash transaction offers C$1.70 per share to Augusta Gold shareholders, representing a 28% premium over the company’s July 15 closing price and a 37% premium over its 20-day volume-weighted average. The acquisition also includes the repayment of shareholder loans amounting to US$32.6 million as of March 31, 2025.
AngloGold Ashanti’s acquisition of Augusta Gold is aimed at bolstering its development plans in the Beatty District. The deal includes Augusta Gold’s key assets—namely the Reward and Bullfrog projects, both adjacent to AngloGold Ashanti’s existing land holdings.
“This acquisition reinforces the value we see in one of North America’s most prolific gold districts,” said Alberto Calderon, CEO of AngloGold Ashanti. “It strengthens our ability to plan and develop this region under an integrated strategy—streamlining operations, improving infrastructure access, and enhancing stakeholder collaboration.”
The Reward project is a permitted, feasibility-stage asset, while the Bullfrog deposit brings significant additional mineral resources. The acquired properties also come with surrounding tenements, further expanding AngloGold’s regional influence.
Under the agreement, Augusta Gold will become an indirect, wholly owned subsidiary of AngloGold Ashanti. Upon closing, its shares will be delisted from public exchanges and cease trading over-the-counter.
The deal has received unanimous approval from Augusta Gold’s board of directors and its audit committee. Furthermore, key shareholders—representing approximately 31.5% of Augusta’s outstanding stock—have signed voting support agreements to approve the merger.
The transaction is expected to close in the fourth quarter of 2025, pending standard regulatory and shareholder approvals. Augusta Gold will seek approval from a majority of shareholders, excluding related parties, at a special meeting later this year.
AngloGold Ashanti is working with RBC Capital Markets as financial advisor, with legal counsel provided by Womble Bond Dickinson (US) LLP, Cravath, Swaine & Moore LLP in the U.S., and Stikeman Elliott LLP in Canada.
Headquartered in Denver, AngloGold Ashanti is a leading global gold mining company with operations, projects, and exploration activities across ten countries on four continents. The company’s expansion in the U.S. through strategic acquisitions is part of its broader plan to enhance production capabilities and resource access in high-potential districts.
As the Beatty District emerges as a critical gold hub, this acquisition marks a significant milestone for AngloGold Ashanti. By integrating Augusta Gold’s assets, the company aims to unlock further value in the region, streamline its development efforts, and reinforce its status as a dominant force in North American gold mining.
