IGO Ltd (OTCPK:IIDDY)

$ 6.01 -0.79 (-11.62%) Market Cap: 2.28 Bil Enterprise Value: 2.19 Bil PE Ratio: 858.57 PB Ratio: 1.02 GF Score: 58/100

Regis Resources Ltd to Enter Binding Agreement to Acquire 30% Interest in Tropicana Gold Project from IGO Ltd Transcript

Apr 13, 2021 / 12:30AM GMT

Release Date Price: $10.41

Transcript

Operator

Thank you for standing by, and welcome to the Regis Resources Limited Conference call. (Operator Instructions)

I would now like to hand the conference over to Mr. Jim Beyer, Managing Director and CEO. Please go ahead.

Jim Beyer

Regis Resources Limited - CEO, MD & Director

Thanks, Harmony, and thanks, everybody, for joining us this morning. Regis is very pleased to announce that it signed a conditional binding agreement with IGO to acquire its 30% interest in the Tropicana Gold Project. This will be with an effective date of the 31st of March, 2021, and for a cash consideration of $903 million. This is genuinely transformational -- or this is a genuinely transformational transaction for Regis, and it's one that we'll deliver on our strategic objectives to grow as a safe, responsible, reliable, long-life, low-cost gold producer that generates strong financial returns. Tropicana is a low-cost, high-margin, top 5 producing Australian open pit and underground gold mine. That's located in the Albany-Fraser belt here in WA. It's one of the largest gold

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