Completion is targeted by the September quarter, pending shareholder, court, and regulatory approvals.

The merger aims to boost diversification, resilience, and market relevance through greater scale.

Reserves and resources are substantial, with about 6.0 million ounces of ore reserves and 20.5 million ounces of resources to support long-life operations.

Regis Resources and Vault Minerals have agreed to merge in an all-scrip, merger-of-equals deal to form a new senior ASX-listed gold producer.

The all-share merger is valued at about A$10.7 billion and will create a combined gold producer with a robust balance sheet and long-term upside.

The combined company is expected to be debt-free with pro forma cash and bullion around A$1.9 billion and annual free cash flow near A$1.7 billion.

The merged group is projected to produce over 700,000 ounces of gold annually, leveraging increased scale and strong cash generation.

Synergies are anticipated, including procurement savings and more than A$500 million in corporate tax benefits, along with better access to capital and global market relevance.

The deal is positioned as creating a leading Australian gold producer with enhanced growth and financial strength.

The merged entity is expected to produce over 700,000 ounces annually from five operating assets, mainly in Western Australia, becoming the third-largest ASX-listed primary gold producer.

Regis shareholders will own about 51% and Vault shareholders about 49% of the enlarged company, with Regis acquiring 100% of Vault and issuing 0.6947 Regis shares per Vault share.

Vault’s board unanimously recommended the deal, subject to no superior proposal and an independent expert confirming it is in shareholders’ best interests.