Big changes are planned for the owner of White River's idled Sugar Zone gold mine.
Vault Minerals - which has owned the operation since 2022 - has announced plans for a "merger-of-equals" with fellow Australian gold producer and explorer Regis Resources, which will see Regis acquire all of Vault's fully paid ordinary shares, giving Vault shareholders 0.6947 new fully paid ordinary shares in Regis in exchange for each Vault share, leaving current Regis shareholders with a 51% stake in the new senior gold producer - set to be one of Australia's largest - and current Vault shareholders with 49%.
Regis' top execs will keep those roles in the combined company, with Vault non-executive Chair Russell Clark keeping that role.
The deal's already been unanimously endorsed by Regis' board and is recommended by Vault's board for shareholders to approve.