Spectrum offer final - Ramelius
PERTH (miningweekly.com) – Gold miner Ramelius Resources on Thursday said that it will not be increasing its offer for fellow-listed Spectrum Metals, but has extended the offer period until May 29.
Ramelius earlier this year launched its takeover offer for Spectrum Metals, offering that company’s shareholders one Ramelius share for every ten Spectrum shares held, in a bid to obtain the high-grade Penny West gold project, in Western Australia.
The Spectrum board has unanimously recommended the offer in the absence of a superior proposal.
Ramelius has taken a 77.48% stake in the takeover target, having declared the offer unconditional earlier in March.
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