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Oxiana to buy Agincourt

OXIANA Ltd is returning to its gold-mining roots as it plans to buy Agincourt Resources Ltd in a recommended scrip deal worth $415 million. The buy will deliver it Agincourt’s Martabe and Wiluna gold operations in Indonesia and Australia respectively, and a controlling stake in uranium player Nova Energy Ltd. The offer comprises 0.65 Oxiana shares for every Agincourt share, equating to $1.92 per share based on Oxiana’s closing price last Thursday.

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