Takeover Offer for Gold Road Resources Looks Fair -- Market Talk

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0125 GMT - The price offered by South Africa's Gold Fields to acquire Australia's Gold Road Resources looks fair to Macquarie. The offer values Gold Road's equity at roughly A$3.7 billion, and implies an enterprise value of A$2.6 billion. The deal will see Gold Fields wholly own the Gruyère gold mine in Western Australia. Macquarie says the offer implies a gold price of A$3,878/oz, which represents a 21% premium to its forecast of long-term prices of the precious metal. "It also takes the risk out of Gold Road's execution of Gruyère's underground option, which we have included in our valuation for the first time, as well as offering a tax effective way of monetizing Gold Road's Northern Star holding, as opposed to a block sale," Macquarie says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 05, 2025 21:25 ET (01:25 GMT)

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The offer values Gold Road's equity at roughly A$3.7 billion, and implies an enterprise value of A$2.6 billion. The deal will see Gold Fields wholly own the Gruyère gold mine in Western Australia. Macquarie says the offer implies a gold price of A$3,878/oz, which represents a 21% premium to its forecast of long-term prices of the precious metal. \"It also takes the risk out of Gold Road's execution of Gruyère's underground option, which we have included in our valuation for the first time, as well as offering a tax effective way of monetizing Gold Road's Northern Star holding, as opposed to a block sale,\" Macquarie says. 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The offer values Gold Road's equity at roughly A$3.7 billion, and implies an enterprise value of A$2.6 billion. The deal will see Gold Fields wholly own the Gruyère gold mine in Western Australia. Macquarie says the offer implies a gold price of A$3,878/oz, which represents a 21% premium to its forecast of long-term prices of the precious metal. \"It also takes the risk out of Gold Road's execution of Gruyère's underground option, which we have included in our valuation for the first time, as well as offering a tax effective way of monetizing Gold Road's Northern Star holding, as opposed to a block sale,\" Macquarie says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 05, 2025 21:25 ET (01:25 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7506","symbol_name":"金礦股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2533591045","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2533591045","pubTimestamp":1746494700,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0125 GMT - The price offered by South Africa's Gold Fields to acquire Australia's Gold Road Resources looks fair to Macquarie. The offer values Gold Road's equity at roughly A$3.7 billion, and implies an enterprise value of A$2.6 billion. The deal will see Gold Fields wholly own the Gruyère gold mine in Western Australia. Macquarie says the offer implies a gold price of A$3,878/oz, which represents a 21% premium to its forecast of long-term prices of the precious metal. \"It also takes the risk out of Gold Road's execution of Gruyère's underground option, which we have included in our valuation for the first time, as well as offering a tax effective way of monetizing Gold Road's Northern Star holding, as opposed to a block sale,\" Macquarie says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7506":"金矿股","GOR.AU":"GOLD ROAD RESOURCES LTD","BK7104":"黄金"},"translate_title":"Gold Road Resources的收购要约看起来很公平——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOR.AU":0.9},"content_text":"0125 GMT - The price offered by South Africa's Gold Fields to acquire Australia's Gold Road Resources looks fair to Macquarie. The offer values Gold Road's equity at roughly A$3.7 billion, and implies an enterprise value of A$2.6 billion. The deal will see Gold Fields wholly own the Gruyère gold mine in Western Australia. Macquarie says the offer implies a gold price of A$3,878/oz, which represents a 21% premium to its forecast of long-term prices of the precious metal. \"It also takes the risk out of Gold Road's execution of Gruyère's underground option, which we have included in our valuation for the first time, as well as offering a tax effective way of monetizing Gold Road's Northern Star holding, as opposed to a block sale,\" Macquarie says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 05, 2025 21:25 ET (01:25 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}