Good to see some further gold sector M&A activity on the market today..
Ramelius Resources (ASX:RMS) bids for Apollo Consolidated (ASX:AOP).
Bid ~$134m, less cash ~$35m, so EV $100m, for 1.1 Moz, acquisition price ~A$90/oz, way up from last qtr EV numbers below.
Apollo Resources sit at 29.1 Mt @1.2 g/t Au, for 1.1 Moz, about 80% indicated. So better resource category and in one main pit, when compared to GBM's 1.5 Moz with similar grades.
M&A Activity
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