(Adds details and background in paragraph 3-7)
March 8 (Reuters) - Australia's Ramelius Resources (RMS) on Friday confirmed it is in discussions with Karora Resources KRR.TO for a potential acquisition of the Canada-based mine operator.
The company, however, clarified the discussions were currently ongoing without any certainty of closure.
Karora's market capitalization stood at C$841 million ($625 million) as at market close on March 6, Ramelius said.
"There is no certainty that the discussions will lead to a transaction and if so, at what price," the company said.
Karora did not immediately respond to a Reuters request for comments.
Toronto-listed Karora Resources is a gold producer and owns and operates two gold mines in Western Australia.
This deal would strengthen Ramelius' chances of touching its 2024 financial year gold production forecast of 265,000 - 280,000 ounces.
($1 = 1.5115 Australian dollars) ($1 = 1.3456 Canadian dollars)
(Adds details and background in paragraph 3-7) March 8...
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Last
$3.61 |
Change
-0.010(0.28%) |
Mkt cap ! $6.909B | |||
| Open | High | Low | Value | Volume |
| $3.59 | $3.67 | $3.54 | $67.75M | 18.72M |
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|---|---|---|
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