Ramelius Resources (ASX:RMS) entered a trading halt after reports from the AFR suggested it was planning to spend up to $1 billion to acquire TSX listed gold miner Karora Resources, the owner of the Beta Hunt gold mine and Higginsville mill.
It would be a return of sorts to Ramelius’ origins. A former Kambalda nickel mine, Beta Hunt is famous for its nuggety nature and occasional jewellery box caches of gold specimens.
Most famously the once struggling mine effectively cleared its debt on the discovery of a living room sized cut 500m underground known as the Father’s Day Vein on a September weekend of fortune in 2018.
Unearthed by airlegger Henry Dole, the find yielded $40 million of gold from around 60 cubic metres of dirt including two specimens regarded as among the largest ever found — now on display at the Perth Mint after they were sold to the WA Government. The largest, dubbed the King Henry, weighed in at a whopping 94kg.
Big Dump, page-36
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