Australian Gold Miner Ramelius to Buy Smaller Developer Spartan

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Sybilla Gross

Sun, Mar 16, 2025, 3:15 PM 1 min read

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(Bloomberg) -- Ramelius Resources Ltd. volition bargain the shares it didn’t already ain successful golden developer Spartan Resources Ltd., successful a transaction that values the smaller Australian shaper astatine A$2.4 cardinal ($1.5 billion).

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The projected woody volition spot Spartan shareholders issued with 0.6957 caller Ramelius shares and A$0.25 successful currency for each stock. The connection represents an 11.3% premium to Spartan’s closing terms connected March 14, Ramelius said successful a connection connected Monday.

Spartan shareholders, excluding Ramelius which has an existing 19.9% shareholding successful the smaller firm, volition ain 39.5% of pro-forma shares outstanding of the enlarged institution aft the woody is complete, it said.

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