Evolution Mining Acquires Carnaby Resources to Boost Copper Production

Evolution Mining Limited (ASX: EVN) has agreed to acquire 100% of Carnaby Resources (ASX: CNB) via a Scheme of Arrangement, incorporating the advanced Greater Duchess copper-gold project near its Ernest Henry Operations in Queensland.

The acquisition values Carnaby at approximately $213 million and is expected to deliver approximately 10 kilotones per annum of additional copper production by leveraging existing infrastructure and mill capacity.

Carnaby shareholders will receive 0.0682 Evolution shares for each Carnaby share held, implying an offer price of $0.77 per share.