Ramelius Resources has taken over it's second gold explorer, in...

Ramelius Resources has taken over it's second gold explorer, in the past 6 months, this time Breaker Resources for $131 million. That represents around a 30% premium on sp, when the offer was initially lobbed. But Breaker still held $77 million cash, so not a bad acquisition for Ramelius.


Once again, $188 million was paid for Apollo Consolidated's 1.1 Moz @ 1.2 g/t gold project in Western Australia. Now $131 million for Breaker Resources' totalling 32 million tonnes grading 1.6 grams per tonne for 1.7Moz gold project also in Western Australia. That's a combined $319 million for both projects.


AZY has a greater resource with much higher grade than both those projects combined, in terms of gold eq ounces. And in terms of AZY'S 100% attributable gold, it's 2.6 Moz, almost match the 2.8 Moz of the above 2 projects.


So Antipa Minerals MC is now trading at $53 million at around 15% of those 2 gold companies combined.Antipa Minerals is incredibly undervalued in comparison to the recent M&A activity of gold explorers and jr miners on the ASX where big premiums have been placed on takeover offers.