A&O advises Wyloo Metals on its investment in Greatland Gold
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A multi-jurisdictional Allen & Overy team in Perth and London has advised Wyloo Metals (Wyloo) on its initial strategic equity subscription and issue of warrants over shares in Greatland Gold (Greatland).
Wyloo is a metals and mining business supporting the discovery of the next generation of mines, focusing on producing commodities that support the transition to a low-carbon future. Wyloo is a part of Tattarang, one of Australia’s largest private companies.
London Stock Exchange-listed Greatland is a leading mining development and exploration company focused on precious and base metals. The Havieron gold-copper deposit in the Paterson region of Western Australia was discovered by Greatland and is currently under development in joint venture with Newcrest Mining.
The investment contributes towards the funding of Greatland’s 30% share in the Havieron, allowing Greatland to be fully funded through to production and future free cash flow, as well as Greatland’s ongoing exploration in the Paterson region of Western Australia.
Commenting on the transaction, Perth Corporate counsel Luke Nicholls said: “A&O’s offices in Perth and London worked together seamlessly to leverage local expertise. The deal showcases our ability to offer our mining clients a cross-border team with a combined Australian and English law offering. It was a real pleasure to support the Wyloo Metals team to rapidly execute and complete this transaction, and see it become the largest shareholder in Greatland Gold.”
The equity subscription and issue of warrants were subject to shareholder approval, which was obtained at a general meeting of Greatland Gold plc shareholders on 7 October 2022.
The A&O team was led by Perth Corporate counsel Luke Nicholls and London Equity Capital Markets partner Michael Bloch, with support from Perth Corporate partner Geoff Simpson, US International Capital Markets partner Jeff Hendrickson and London Tax partner Tim Harrop.