OceanaGold to acquire Romarco Minerals for CAD856m.

OceanaGold, a multinational gold producer with mines located on the South Island of New Zealand and in the Philippines, agreed to acquire Romarco Minerals, a gold development company focused on production primarily in the US, for CAD856m. "We are very pleased to bring this transaction forward to the benefit of both sets of our valued shareholders. OceanaGold has remained disciplined in its growth initiatives while building and preserving a robust balance sheet and positioning the company for the value-creating opportunities that complement our existing portfolio of high-quality assets. We believe the addition of the low-cost, long-life Haile Gold Mine provides such an opportunity while underpinning an industry leading business. The combination of the sector low cost profile with significant free cash flow generation, diversified production and a pipeline of organic growth opportunities forms the lowest cost gold producer globally," Mick Wilkes, OceanaGold Managing Director & CEO.