PERTH (miningweekly.com) – Gold miner St Barbara has completed the acquisition of fellow listed Bardoc Gold.

St Barbara in December last year launched a takeover offer for Bardoc, offering 0.3604 of its own shares for every Bardoc share held, valuing the takeover target at A$157-million and its shares at 53c each.

Bardoc shareholders were on Wednesday issued with the scheme consideration.

St Barbara previously told shareholders that the acquisition of the advanced Aphrodite and Zoroastrian underground deposits, which lie immediately adjacent to the rail line that runs to the Leonora processing plant, provided the opportunity to accelerate St Barbara’s Leonora province plan.

“The completion of this major milestone has allowed us to lock in the acceleration of the Leonora province plan. The acquisition gives St Barbara access to the advanced Aphrodite and Zoroastrian underground deposits. Due to their proximity to road and rail infrastructure that connect them to Leonora, the deposits are expected to become additional ore sources to support the filling of the mill and the expansion to 2.1-million tonnes a year,” St Barbara MD and CEO Craig Jetson said on Wednesday.

“The acquisition also includes Bardoc’s extensive land package, contributing to St Barbara’s leading position in the Leonora province and provides a strong platform for the company to deliver further organic growth for years to come.”

Bardoc’s share trading was suspended at the close of business on April 4, and the company would now apply to the ASX to delist.

In the meantime, Bardoc has confirmed the completion of the Edge Minerals demerger, which will hold the South Woodie Woodie manganese project, in Western Australia.

Bardoc had previously told shareholders that the spin-off of Edge Minerals presented Bardoc shareholders with an opportunity to receive shares via an in-specie distribution in a new battery metals-focused company led by one of the most experienced corporate teams in Australia with a proven track record in value-creation.