Ramelius still eager to add to portfolio
PERTH (miningweekly.com) – Gold miner Ramelius Resources is still on the look-out for acquisition opportunities, despite having completed nearly seven transactions over the last six years.
Ramelius is in the midst of a takeover deal with fellow-listed Musgrave Resources, offering one of its own shares for every 4.21 Musgrave shares held, as well as a 4c-a-share cash payment.
By Tuesday, the gold miner’s share in the takeover target had reached 29.11%. The Musgrave board has urged shareholders to accept the offer, which will close on August 18.
Musgrave’s Cue project is some 35 km from Ramelius’ Mt Magnet project, providing the opportunity for an integrated development scenario with enhanced commercial viability. The project would be incorporated into the Mt Magnet resource base, which stood at 3.2-million ounces as of the end of June 2022.
Shortly before launching the takeover offer for Musgrave, Ramelius completed the acquisition of ASX-listed Breaker Resources, which it had acquired in an all-scrip off-market takeover offer, with Breaker shareholders receiving one Ramelius share for every 2.82 Breaker shares held.
The Breaker deal allowed Ramelius to consolidate the Rebecca project, acquired in 2022, with Breaker’s Lake Roe project.
“There is a definite appetite for consolidation, and we are playing our part in that,” said Ramelius MD Mark Zeptner on the sidelines of the Diggers & Dealers conference.
“We have been pretty clear that we are looking for a third leg to the stool, so something bigger. But we have become quite adept at the bolt-on to the existing and to greenfield acquisitions, but we are still keen for bigger operations. If I had a choice, I would pick that third asset, rather than another bolt-on.
“But if it is a bolt-on that makes money for shareholders, and makes sense, I just have to do it,” Zeptner said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















