The $768 million acquisition of Canada's Atlantic Gold may be the launching pad for further deals in North America, according to St Barbara managing director Bob Vassie.
St Barbara's long hunt for an acquisition climaxed on Wednesday with the announcement of the Atlantic deal, which will consume most of St Barbara's cash reserves as well as the proceeds of a $490 million equity raising.
It comes one year after Mr Vassie publicly declared that North America had become the focus of his acquisition hunt, and on Wednesday Mr Vassie said further deals were possible. ''We have enough to keep us busy but we will be looking harder at that region now we have a foothold," he told The Australian Financial Review.
'This one does make us happy for now but having said that it does give us a good foothold in the Canadian region and also the North American region and there is lots of activity up there. So most immediately we will be using our team there and we will augment it with our team to keep an eye on other things."
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