Opportunity

Following the sale of Barrick Gold Corporation’s 50 per cent interest in the Kalgoorlie Super Pit to Saracen Mineral Holdings in November 2019, Northern Star Resources Limited and Zenith Loom Capital quickly pivoted to engage with Newmont Goldcorp Corporation regarding the possible sale of its remaining 50 per cent interest in the asset.

Approach

In the narrow transaction window prior to Christmas, Zenith Loom Capital assisted Northern Star to negotiate, execute and announce the $US800 million transaction with Newmont within ten days.

he acquisition was partly funded by a fully underwritten $A765 million institutional placement that was launched on the last possible day prior to the closure of equity markets for 2019, providing funding certainty to the vendor. Zenith Loom acted as financial adviser to Northern Star on the acquisition and as global coordinator, joint lead manager, bookrunner and underwriter to the equity raising.