Karora Resources (TSX: KRR)
Notes the recent press speculation in relation to a potential transaction involving Ramelius Resources Ltd (ASX: RMS) and Karora.
Karora confirms that it is currently in exclusive discussions with Ramelius regarding a potential business combination.
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| Karora Resources | TSX: KRR |
| Stage | Production + Development + Exploration |
| Metals | Gold + Nickel |
| Market cap | C$791 million @ C$4.45 |
| Location | Kalgoorlie, Western Australia |
Karora Resources Responds To Media Speculation
TORONTO, March 7, 2024 /CNW/ – Karora Resources Inc. (TSX: KRR) (“Karora”) notes the recent press speculation in relation to a potential transaction involving Ramelius Resources Ltd (ASX: RMS) (“Ramelius”) and Karora.
Karora continually assesses strategic options and holds discussions with various industry participants.
Karora confirms that it is currently in exclusive discussions with Ramelius regarding a potential business combination.
Discussions remain confidential and incomplete.
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.
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Karora Resources.
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