Karora Resources (TSX: KRR)
Notes the announcement today by Ramelius Resources Ltd (ASX: RMS) that it is no longer in exclusive discussions with Karora regarding a potential transaction. Karora confirms that it has exited such discussions.
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| Karora Resources | TSX: KRR |
| Stage | Production + Development + Exploration |
| Metals | Gold + Nickel |
| Market cap | C$864 million @ C$4.84 |
| Location | Kalgoorlie, Western Australia |
Karora Resources Provides Update On Exclusive Discussions
Karora also confirms that it is currently engaged in exclusive negotiations with a new third party regarding a potential business combination.
No definitive agreement has been reached and there can be no assurance that any transaction will result from these discussions.
Even if a final transaction is agreed upon, there can be no assurances as to its terms, structure or timing. Karora does not intend to make any additional comments regarding these discussions or any potential transaction unless a definitive agreement has been reached.
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About Karora Resources
Karora is focused on increasing gold production at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations in Western Australia.
Ore is processed at two centralized plants: the 1.6 Mtpa Higginsville mill and the 1.0 Mtpa Lakewood mill, both located near our mining operations.
At Beta Hunt, a robust gold Mineral Resource and Reserve is hosted in multiple gold shears, with gold intersections along a 5 km strike length remaining open in multiple directions.
Higginsville has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers.
Karora has a strong Board and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora’s commitment to reducing emissions across its operations. Karora’s common shares trade on the TSX under the symbol KRR and on the OTCQX market under the symbol KRRGF.
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Karora Resources
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