A revised feasibility study released by Explaurum has detailed a reduced capital cost of $111 million for its Tampia project in the Wheatbelt, as Ramelius Resources increased its stake in the gold explorer to 20 per cent.
Explaurum has asked shareholders to accept an $8 million placement from Alkane Resources on the same day a report from independent expert BDO said a hostile takeover bid from Ramelius Resources undervalued the gold explorer.
Ramelius Resources has increased its takeover bid for gold-focused Explaurum, with the miner making an indicative $73.4 million offer after its first proposal was rejected.
Alkane Resources is set to take an $8 million stake in takeover target Explaurum via a share placement that breaches the conditions of Ramelius Resources' hostile bid.
The board of Explaurum has rejected a $59.2 million hostile takeover bid from gold miner Ramelius Resources, saying the offer is opportunistic and undervalues the target.
SPECIAL REPORT: The state's gold industry is planning to invest more than $1 billion in exploration and development to sustain continued modest growth in production.
Ramelius Resources has launched a $59.2 million hostile takeover bid for exploration company Explaurum, which is aiming to develop its Tampia Hill gold project in the Wheatbelt.
Overland Resources Limited is pleased to advise that it has executed a Sale and Purchase Agreement with Peter Gianni to acquire a 100% interest in Exploration Licence Application 53/1971 for a tota
Three local resources companies have announced successful raisings worth a total of $12 million today, with uranium hopeful Vimy Resources, gold focused Explaurum and gold explorer Catalyst Metals all raising capital.
Mineral exploration companies Explaurum and Black Rock Mining have completed capital raisings totalling $10.5 million to advance their gold and graphite projects respectively.
The return of gold mining as Western Australia's fastest-growing industry is becoming more interesting, with a near-record price for the metal in Australian dollars triggering increased exploration and a pair of possible mine developments in the Wheatbelt.
Mark Calderwood has joined the board of Erongo Energy as technical director, following the completion of its acquisition of his company Ninghan Exploration.
Erongo Energy announced today that it would acquire the unlisted company Ninghan Exploration and appoint ex-Perseus Mining Managing Director, Mark Calderwood, to its board.
