From AFR Street Talk column:
Ramelius Resources in exclusive DD for Karora; $1b deal tipped
Sarah Thompson, Kanika Sood and Emma RapaportMar 7, 2024 – 12.26pm
Ramelius Resources is in exclusive due diligence to acquire Karora, a sizeable WA asset which it hopes can fill the gap expected to be created when its Edna May mine reaches the end of its life.
Street Talk can reveal the deal is expected to be worth about $1 billion. Karora will bring new production hubs with mills and help Ramelius consolidate its position in the region.
It comes as Ramelius shares have risen nearly 48 per cent in the past year. It is sitting on a strong balance sheet, which is expected to have $400 million cash and gold as well as $100 million in undrawn debt by year-end.
A Ramelius spokesperson declined to comment.
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