Ramelius to buy Spectrum

SUCCESSFUL gold miner Ramelius Resources is acquiring the high-grade Penny West gold deposit via a A$228 million mainly scrip takeover of Spectrum Metals.

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The gold beneath the historical Penny West pit is very attractive to Spectrum suitor Ramelius

The Spectrum board-agreed deal includes a $26 million cash component and at a notional 15c per share, represents a 52% premium to Spectrum's last closing price and a 70% premium to the 30-day

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