Vango Mining Limited (ASX:VAN) made an offer to acquire Dampier Gold Limited (ASX:DAU) from a group of sellers for AUD 6.7 million on September 17, 2018. Under the terms of the transaction, Vango Mining Limited will issue two shares for every seven shares of Dampier Gold Limited. Option holders will also be paid with the same exchange ratio. Grant Mooney, Donna Fraser, Bradley Fraser, Keith Brooks, Ocean Flyers Pty Ltd, Ragged Holdings Pty Ltd and Skiffington Super Pty Ltd, holding 15.11 million shares, entered into a pre-bid acceptance deed to accept the offer. The transaction is subject to Vango Mining Limited acquiring a minimum of 50.1% stake in Dampier Gold Limited. The status of conditions will be given by November 9, 2018. The Board of Dampier advised the shareholders to take no action in relation to the offer or any document received from Vango in relation to the offer until they receive the Directors' formal recommendation. The Directors of Dampier Gold Limited unanimously recommended that shareholders reject the inadequate and opportunistic offer from Vango Mining Limited by taking no action. As on October 24, 2018, Vango Mining Limited announced that it does not consider the offer as inadequate. As of October 30, 2018, offer has become unconditional. Vango Mining Limited will be entitled to compulsorily acquire any Dampier Gold Limited shares in respect of which it has not received an acceptance of its offer on the same terms as the offer if, during or at the end of the offer period; Vango Mining Limited and its related bodies corporate acquire relevant interests in at least 90% in Dampier Gold Limited and Vango Mining Limited and its related bodies corporate have acquired at least 75% of Dampier Gold Limited shares that Vango Mining Limited offered to acquire; if these thresholds are met and Vango Mining Limited wishes to exercise its right to compulsorily acquire any outstanding Dampier Gold Limited shares. As of November 2, 2018, independent expert Stantons International Audit & Consulting Pty Ltd., Financial Advisory Arm provided the opinion that offer is not fair and reasonable. The offer will open on October 1, 2018 and close on November 1, 2018. As of October 15, 2018, offer will close on November 13, 2018. As of October 16, 2018, closing date of the offer was corrected to November 16, 2018. As of November 16, 2018, closing date of the offer has been extended to November 23, 2018. As of November 23, 2018, offer period has been extended to November 30, 2018. As of November 30, 2018, offer period has been extended to December 14, 2018. As of December 14, 2018, offer period has been extended to January 4, 2018.

Oliver Morse and Matthew Hall of DJ Carmichael Pty Limited acted as financial advisors for a fee of AUD 0.25 million and Gilbert + Tobin acted as legal advisor for a fee of AUD 0.2 million to Vango Mining Limited. Boardroom Pty Limited acted as registrar for Vango. RFC Ambrian Limited was appointed as a financial advisor to Dampier Gold Limited. As on October 24, 2018, the appointment of RFC Ambrian Limited was terminated. Steinepreis Paganin acted as legal adviser to Dampier Gold Limited. As of November 5, 2018, Stantons International Audit & Consulting Pty Ltd., Financial Advisory Arm acted as independent expert to Dampier Gold Limited. Dunbar Resource Management acted as financial and technical experts for Dampier Gold Limited.

Vango Mining Limited (ASX:VAN) completed the acquisition of 23.4% stake in Dampier Gold Limited (ASX:DAU) from a group of sellers for AUD 1.8 million on January 4, 2019. 38.8 million shares of Dampier Gold Limited were acquired.