Allens has advised Canadian precious metals mining company Fortuna Silver Mines on its proposed all scrip acquisition of ASX-listed gold mining company Chesser Resources. Fortuna will acquire 100 per cent of the shares in Chesser by way of Scheme of Arrangement, subject to shareholder approval.
'We are pleased to have supported Fortuna with this acquisition. It reflects a continued trend of consolidation in the mining sector and specifically in precious metals,' said lead Allens partner Charles Ashton.
'As the energy transition continues to fuel a race for critical metals and resources that the world needs to transition away from fossil fuels toward renewable energy sources, we believe the composition of the sector will continue to shift.'
Allens worked closely with Fortuna's Canadian counsel, Blake, Cassels & Graydon LLP to navigate the complex legal requirements and nuances of the various jurisdictions to execute this cross-border transaction.
