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Ramelius announces takeover offer for Explaurum
Ramelius Resources announces that it intends to make an off-market takeover bid (Offer) to acquire all of the ordinary shares of Explaurum Limited, a gold exploration and development company focussed on the Tampia Hill Project, located near Narembeen, 240km east of Perth in Western Australia.
Managing Director, Mark Zeptner, said of the Offer: “There is clear logic in the combination of Explaurum’s assets with Ramelius’ WA operations. After the successful acquisition of Edna May last year, Ramelius is focussed on building on its growth strategy to extend mine life and maximise the value of existing infrastructure in its portfolio. This compelling offer is the next step in that growth strategy and is expected to provide significant benefits to both Explaurum and Ramelius Shareholders.”
The Tampia Hill project is located 240km east of Perth and in proximity of Ramelius’ Edna May mine.