Thomsons has advised Australian gold and copper explorer Emmerson Resources Limited on its all-scrip merger with Pan African Resources, a transaction valuing Emmerson at around A$300 million.

The transaction is being implemented by way of a scheme of arrangement and, on completion, is expected to create a merged group with an ASX listing and a valuation in excess of A$5 billion. The combined business is also expected to become a top 10 gold miner on the ASX.

Thomsons advised Emmerson on all aspects of the transaction, from Pan African Resources’ initial approach through to agreed terms and signed documentation. The firm’s role included advising on the legal, regulatory and commercial aspects of the deal, including structuring and implementing the scheme of arrangement, governance and disclosure obligations, negotiation of transaction terms, preparation and review of key documentation, and support for the shareholder approval process.

Pan African Resources is a multinational precious metals producer incorporated in England and Wales, with its shares dually listed on the London Stock Exchange (LSE) and the Johannesburg Stock Exchange (JSE).

The Thomsons team was led by Partner Scott Gibson, who said the transaction represents a significant milestone for Emmerson and highlights continued activity in the resources sector.

“We are delighted to have supported Emmerson Resources on this significant transaction. The proposed merger with Pan African Resources positions the combined group as a major ASX-listed gold miner and reflects the strategic value of high-quality Australian resources assets. It was a pleasure to work with the Emmerson team on a transaction of this scale and complexity.”

The Thomsons team included Partner Michael Ng and Lawyers Amy Dodgson and Emily Rogan.