AngloGold Ashanti’s Acquisition of Augusta Gold

On July 16, 2025, AngloGold Ashanti plc (“AngloGold Ashanti”), an independent, global gold mining company, announced that certain of its subsidiaries have entered into a definitive agreement with Augusta Gold Corp. (“Augusta Gold”) to acquire all issued and outstanding shares of common stock of Augusta Gold at a price of C$1.70 per share of common stock in cash. The price implies an enterprise value for Augusta Gold of approximately C$197 million (approximately $143 million). Cravath is representing AngloGold Ashanti as U.S. counsel in connection with the transaction.

The Cravath team is led by partners George A. Stephanakis and Andrew M. Wark and European counsel Lawrence J. Verhelst and includes associate Solomon A. Akesseh and foreign associate attorney Nita Rautakoski on M&A matters; and partner Matthew J. Bobby on executive compensation and benefits matters.