Ramelius settles Marda buy
PERTH (miningweekly.com) – Gold miner Ramelius Resources has completed the acquisition of the Marda gold project, in Western Australia, from the creditors of Black Oak Minerals.
Ramelius in September of last year announced plans to purchase the Marda gold project from the liquidators of Black Oak Minerals, for A$13-million.
Following the receipt of Federal Court approval to transfer the shares of Black Oak Minerals to Ramelius, the company has now paid a final consideration of A$11-million.
“The successful acquisition of the Marda gold project secures additional high-grade ore within trucking distance of the Edna May facility, reinforcing Ramelius’ commitment to growth, and well and truly establishing Edna May as a new production hub,” said Ramelius MD Mark Zeptner.
Marda is some 191 km from the Edna May operation and is estimated to contain 333 000 oz of mineral resources at 1.96 g/t gold and 151 000 oz of ore reserves at 2.30 g/t gold.
“The team is already working on bedding down Marda as an additional ore source to enhance the value of operations at Edna May, with integration expected to commence by the middle of the calendar year,” Zeptner said.
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