Third party emerges as Explaurum-Ramelius rumble heads to Takeovers Panel

EXPLAURUM has entered a trading halt this morning, saying it will make an announcement about a strategic investment, potentially a critical tactic in its defence of a hostile takeover bid from Perth-based mid-tier gold miner Ramelius Resources.

Third party emerges as Explaurum-Ramelius rumble heads to Takeovers Panel Third party emerges as Explaurum-Ramelius rumble heads to Takeovers Panel Third party emerges as Explaurum-Ramelius rumble heads to Takeovers Panel Third party emerges as Explaurum-Ramelius rumble heads to Takeovers Panel Third party emerges as Explaurum-Ramelius rumble heads to Takeovers Panel

Drilling at Tampia

At the same time, in what could be a coincidence, Alkane Resources also entered a halt "regarding an equity investment in a listed mineral exploration company". 
 
Alkane is a proven and cashed up gold miner with around A$80 million cash that is clearly keen to deploy capital in the west, having recently taken a $3.7 million stake in Pilbara gold player Calidus Resources.
 
It could be a development partner for Explaurum, as it intends to be for Calidus, and by taking a stake in Brisbane-based Explaurum at a premium to recent trading could help blow Ramelius' bid out of the water.
 
Meanwhile Ramelius, which has increased its stake in Explaurum from 3.4% to 4.96%, has made an application to ...

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