RAMELIUS RESOURCES LIMITED ANNOUNCES A$92 MILLIONMERGER PROPOSAL...

RAMELIUS RESOURCES LIMITED ANNOUNCES A$92 MILLION
MERGER PROPOSAL WITH DIORO EXPLORATION NL
• Ramelius to make a 2‐for‐1 scrip offer for a merger with Dioro,valuing Dioro at one dollar (A$1.00) per share (total equity value of circa A$92 million).
• The offer represents premiums of 40% to the implied value of the current Avoca offer; 48% to the 3 month Dioro VWAP; and 153% to the last traded price before the Avoca offer.
• Dioro shareholders have the opportunity to merge with a like‐sized peer and share in a far higher degree of upside as part of a very profitable, high‐grade WA based gold miner on superior terms to the Avoca offer.
• Substantial combined FY10 gold production with low operating costs and significant synergies relating to mining, processing and corporate costs.