Huzzah!!! Finally, the Zep pounces!! Kicking the tyres on the...

Huzzah!!! Finally, the Zep pounces!!

Kicking the tyres on the canuck listed outfit, Karora Resources, it seems. As the Fin Review conveys, "Karora’s portfolio, located 60 kilometres from Kalgoorlie, includes 100 per cent ownership of the Beta Hunt mine, Higginsville gold operations and Spargos gold mine. It is expected to produce 170,000 to 195,000 ounces gold in 2024."

It's certainly the right size in terms of production, as it would take Ramelius over the 400k oz pa threshold, possibly joining up again with the combined Silver Lake / Red5 combo. The going market price at the equivalent of A$945m seems quite a swallow for Ramelius, assuming it is bought as a take-over rather than a merger of equals. The fact that all of Karoro's assets are in WA is also a plus for a homebody such as Mark Z. As for the quality of those assets, I am clueless. I recall hearing reference to Higginsville and Spargos but have not even heard of Beta Hunt before now. I look forward to the commentary and analysis from those who are familiar with those projects.

One interesting aside is that Leigh Junk is listed on Karora's website as Managing Director, Australia even though he is not actually a director on Karora's Board. Just to remind folks that Mr Junk seemed to build a solid reputation at Doray before that was taken over by Silver Lake and then seemed to blot his copybook at Dacian before it fell into the arms of Rally Ho! and Genesis.

Another aside is that this dance will be the first one for Ramelius without Tim Manners contributing. I have little doubt that Mark Zeptner runs these m&a exercises but I also suspect that TM had significant input. Anyway, fair to say that I am rapt that things are finally happening with Ramelius.