Ann: Transformational Combination of Ramelius & Spartan, page-10

"Based on Ramelius’ close price of $2.20 per share on 14 March 2025, the Consideration implies a value of $1.78 per Spartan share, representing a: • 11.3% premium to Spartan’s closing price of $1.60 per share on 14 March 2025;"

Be interesting how the big shareholders think of this , $`1.78 is around what the reserve is worth but does not take into account the inferred on a NPV 8 ( 2 years until mining started ) basis or any other blue sky . I suspect they will vote no and better to go alone , nice first try sort of like what WGX tried before which was how successful .... not .
I am surmising a bigger Canadian player will show an Ace card and seal the deal to the angst of RMS .