Musgrave Minerals recommends acceptance of Ramelius offer
July 31, 2023 at 03:41 pm
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Musgrave Minerals Ltd (ASX:MGV) managing director Rob Waugh tells Proactive the company’s board continues to unanimously recommend to shareholders that they accept the takeover offer by top 10 Australian gold producer Ramelius Resources Ltd in the absence of a superior proposal.
This comes as Ramelius, through wholly-owned subsidiary Mt Magnet Gold Pty Ltd, surpassed a 17.71% interest in Musgrave last week and the offer from previous suitor Westgold Resources Ltd closed and lapsed given the offer conditions were not all fulfilled or waived.
Ramelius, a top 10 Australian gold producer, has the financial capacity, operational experience and exploration expertise to continue the significant work done by Musgrave with a view to expand the existing resource and develop the Cue Project, in order to maximise the value of the project for both sets of shareholders.
he Ramelius offer is scheduled to close at 7:00pm (Sydney time) on August 18, 2023, unless extended or withdrawn by Ramelius.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Musgrave Minerals Limited is an Australia-based gold explorer and developer. The Company is focused on its Cue Project in the Murchison Province of Western Australia and has additional projects in the Mt Magnet region of Western Australia (WA) and the Musgrave region of South Australia. The Company holds a 100% interest in the Cue Project. The Cue Project consists of the Moyagee Gold southern area and Hollandaire Copper northern area in Western Australia. The Mt Magnet South Project comprises a group of 19 semi-contiguous prospecting and exploration licenses covering an area of approximately 294 square kilometers (km2). The Company holds 100% of the Mt Magnet South Project, which is located within trucking distance of the Company's Cue Gold Project in Western Australia's Murchison goldfields and approximately five km south of the township of Mt Magnet. It holds various tenement applications in the South Australian Musgrave Province.
MUSGRAVE MINERALS 