The stake was acquired for a consideration of $50m
Gilbert + Tobin (G+T) has helped Mount Gibson Iron Limited to acquire a 50% stake in the NT-located Central Tanami Gold Project from Northern Star Resources under a binding conditional agreement.
The deal also covers adjacent wholly owned exploration tenements, according to an ASX announcement. The purchase was made for a cash consideration of $50m.
The acquisition supports Mount Gibson’s expansion into the gold sector.
“This purchase from Northern Star Resources consolidates Mount Gibson’s position and enables future development opportunities across a highly prospective gold tenement package”, G+T said in a media release.
The firm’s team collaborated with Mount Gibson on strategic, regulatory and transactional matters related to the transaction. Partners Claire Boyd and Justin Mannolini took the lead on the team, with support from lawyer Lucy Burns and special counsel Fiona Meaton.
The acquisition’s completion is subject to Foreign Investment Review Board approval, further extension of existing infrastructure arrangements on one tenement by the Central Land Council, non-exercise by Tanami Gold of its right of first refusal under the Central Tanami Project joint venture, and other pre-completion requirements that must be met before 31 March 2026, according to the ASX announcement.
