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.

.

.

Karora Resources Provides Update On Exclusive Discussions

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.

.

.

Karora Resources Responds To Media Speculation

Apollo Consolidated (ASX: AOP)

Delisted from the ASX on the 16th December 2021.

This was following the successful buyout of Apollo by Ramelius Resources (ASX: RMS).

.

.

Apollo Consolidated delisted after completion of Ramelius Resources buyout.

Apollo Consolidated (ASX: AOP) was delisted from the ASX on the 16th December 2021.

This was following the successful buyout of Apollo by ASX listed gold production company Ramelius Resources (ASX: RMS).

Having achieved > 90% ownership of shares in Apollo, Ramelius moved to compulsory purchase the outstanding shares.

Comment

So the Apollo Consolidated name disappears from the register, and perhaps being owned by a producing miner with multiple mines in the vicinity may be a positive move in the longer term?

I’m going to take a close look at Ramelius, as they have several small producing mines and are looking to make further acquisitions, with Apollo looking an appropriate fit given its proximity to the other Ramelius operations in Western Australia.

I like this sort of growth model, Fiore Gold being bought out by Calibre Mining is another example of smaller companies growing whilst being in profitable production.

Ramelius Resources company highlights

Ramelius Resources Limited (ASX: RMS) is a Western Australian gold production and development company that has been listed on the ASX since 2003, and in production since 2006.

The company-making mine, Wattle Dam, was located approximately 70km south of Kalgoorlie and was at one stage the highest grade gold mine in Australia. It was operated successfully from 2006 to 2013.

Ramelius owns and operates the Mt Magnet, Edna May, Vivien, Marda, Tampia and Penny gold mines, all of which are located in Western Australia.

Ore from the high-grade Vivien underground mine, located near Leinster, is hauled to the Mt Magnet processing plant where it is blended with ore from both underground and open pit sources at Mt Magnet.

The Penny project is currently under development with first ore in late FY22.

The Edna May operation is currently processing high grade underground ore, low grade stockpiles, as well as ore from the adjacent Greenfinch open pit and the satellite Marda open pit mines.

Ore feed from the Tampia open pit mine commenced in early FY22.

.

Apollo Consolidated (ASX: AOP)

Ramelius Resources have extended the offer period for acceptances of their offer for Apollo Consolidated until the 17th December, as they only have 85.52% acceptances so far.

.

2 December 2021

Ramelius Resources Announce an Extension of the Offer Period for Apollo Consolidated

Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) refers to its off-market takeover offer (“the Offer”) to acquire all of the ordinary shares of Apollo Consolidated Limited (ASX:AOP) (“Apollo”) of $0.34 in cash plus 0.1778 Ramelius shares for each Apollo share.

As at the time and date of this announcement, Ramelius holds a relevant interest in 85.52% of Apollo shares.

.

EXTENSION OF OFFER PERIOD

Ramelius intends to extend Offer period to 7.00pm (Sydney time) on 17 December 2021.

Formal extension documentation will be lodged shortly.

.

ACCEPTANCE FORM

Should you require an acceptance form for the Offer please contact the Offer Information Line on +61 3 9415 4100 (from outside of Australia), Monday to Friday between 9.30 pm and 08.30 am GMT.

.

MORE INFORMATION ON THE OFFER

Apollo Consolidated shareholders can receive further information on the Offer by calling the Offer Information Line on +61 3 9415 4100 (from outside of Australia), Monday to Friday between 9:30pm to 08:30pm GMT.

.To read the full news release, please click HERE

.

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

/////////////////////

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

Apollo Consolidated (ASX: AOP)

Ramelius Resources has increased its bid for Apollo Consolidated by 6 c to 62c, cash and scrip split.

The bid has been recommended by the board, and it appears Ramelius have purchased Gold Road’s 19.9% so unless there is a higher bidder, this should go through unopposed.  {…}

.

Apollo Consolidated – Lake Rebecca drilling

.

.

Apollo Consolidated bidder Ramelius Resource outbids Gold Road by 6c to A$0.62 cash and scrip deal.

.

Ramelius Resources has increased its bid for Apollo Consolidated by 6 c to 62c, cash and scrip split.

The bid has been recommended by the board, and it appears Ramelius have purchased Gold Road’s 19.9% so unless there is a higher bidder, this should go through unopposed.

To read the full Apollo Consolidated news release, please click HERE

.

To read the Ramelius Resources Bidder’s statement, please click HERE

.

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

Disclosure

At the time of writing the author holds Apollo Consolidated shares bought in the market on the day of purchase.

Apollo Consolidated (ASX: AOP)

Ramelius to acquire Apollo Consolidated Limited (Apollo), 100% owner of the Lake Rebecca Gold Project in Western Australia, via a recommended off-market takeover offer.

Apollo shareholders are to receive an implied Offer price of $0.562 per share  comprising $0.34 in cash and 0.1375 Ramelius shares per Apollo share.

.

.

.

Apollo Consolidated – Lake Rebecca drilling

.

.

Ramelius Makes Recommended Takeover Offer for Apollo Consolidated

.
Highlights

• Ramelius to acquire Apollo Consolidated Limited (Apollo), 100% owner of the Lake Rebecca Gold Project (Lake Rebecca) in Western Australia, via a recommended off-market takeover offer (Offer)
• Located in Australia’s premier gold province and with a current total Mineral Resource estimate of 29.1 Mt@ 1.2 g/t for 1.1 million ounces
, Lake Rebecca provides a highly attractive platform for the potential future
development of a new production centre for Ramelius
• Ramelius has the financial capacity, operational experience and exploration expertise to continue expanding the existing Mineral Resource and to develop Lake Rebecca, in order to maximise the value of the asset for both sets of shareholders
• Apollo shareholders to receive an implied Offer price of $0.562 per share (Offer Price), comprising $0.34 in cash and 0.1375 Ramelius shares per Apollo share.

This Offer Price represents premiums of:
‒ 27.0% to Apollo’s 3 day VWAP of $0.441;
‒ 35.9% to Apollo’s 10 day VWAP of $0.412;
‒ 38.3% to Apollo’s 1 month VWAP of $0.405; and
‒ 52.2% to Apollo’s 3 month VWAP of $0.368.
• The Offer Price implies an enterprise value for Apollo of $128 million, , a 37.0% premium to the enterprise value implied by Apollo’s 3 day VWAP of $94 million
• Apollo’s Directors unanimously recommend Apollo shareholders accept the Offer, in the absence of a superior offer
• Apollo Directors and management have entered binding agreements to accept the Offer for all the shares they own or control (representing 13.7% of Apollo’s issued shares) within 7 days of the Offer opening, in the absence of a superior offer
• The Offer is subject to a 90% minimum acceptance by Apollo shareholders

• Ramelius and Apollo will host a joint investor call at 8:00am AWST / 10:00am AEST/ 11:00am AEDT on Monday 18th October 2021. To listen in live, please click on this link  and register your details: https://s1.c-conf.com/diamondpass/10017445-mdg0ce.htm

To read the full news release, please click HERE

=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.