Corrs Chambers Westgarth and Gilbert + Tobin have advised on Vault Minerals’ proposed merger with Genesis Minerals to create an Australian gold producer entity with a pro forma market capitalisation of around AUD12.6 billion (USD8.8 billion)
Should the merger be successful, it would create one of Australia’s top three gold producers, Corrs Chambers Westgarth said.
The deal is structured as an Australian court-approved scheme of arrangement, under which Genesis will acquire 100% of the fully paid ordinary shares in Vault. Additionally, Vault shareholders will receive 0.7629 new Genesis shares and AUD0.475 in cash per Vault share, with a mix-and-match facility allowing them the choice to receive a full cash consideration or full scrip consideration, subject to scale back.
Corrs Chambers Westgarth acted for Vault, with the team led by partner Russell Philip and special counsel Michael Denny, who were supported by lawyers across the firm’s corporate, energy and natural resources, competition, tax, litigation and environment and planning practices.
“Corrs advised on all regulatory and compliance matters associated with the proposed transaction with Genesis Minerals, including Australian competition approval requirements,” Philip told Asia Business Law Journal.
The proposed merger follows Vault’s earlier plan, announced in May 2026, to combine with Regis Resources in a transaction that would have created an ASX-listed gold company with a pro forma market capitalisation of roughly AUD10.7 billion.
Philip said a key issue in progressing the Genesis transaction involved navigating the termination of the Regis deal.
“Corrs assisted Vault Minerals in determining whether the transaction proposed by Genesis Minerals was considered superior to Vault Minerals’ previously proposed merger with Regis Resources Limited, and subsequently assisted Vault Minerals in working through Regis’ matching rights and the subsequent termination of the Regis transaction in order to allow the transaction with Genesis Minerals to proceed,” he said.
Gilbert + Tobin advised Genesis, with partner Justin Mannolini spearheading the team.
Corrs Chambers Westgarth said Vault and Genesis’ proposed merger was expected to produce 600,000 to 700,000 ounces of gold annually, with ore reserves of around 9.4 million ounces and net cash of around AUD611 million.
