Ramelius and Spartan Announce Transformational Merger to Create Leading Gold Producer

Carol Forrest
gold jobs

Ramelius Resources Limited (ASX: RMS) and Spartan Resources Limited (ASX: SPR) have announced a transformative merger, set to create a prominent gold mining group with a combined market capitalisation of approximately A$4.2 billion.

Transaction Overview:

  • Ramelius to acquire all outstanding Spartan shares via Scheme of Arrangement, unanimously recommended by Spartan’s board.
  • Spartan shareholders to receive $0.25 cash plus 0.6957 Ramelius shares per Spartan share, valuing Spartan at A$2.4 billion.
  • The deal represents an 11.3% premium to Spartan’s recent share price and a 27.5% premium to its 30-day volume-weighted average price (VWAP).
  • Spartan shareholders will own approximately 39.5% of the combined entity.

Strategic Benefits of the Merger:

  • The merger creates a significant mid-tier Australian gold producer with proforma mineral resources totaling 12.1Moz Au and Ore Reserves of 2.6Moz Au.
  • Expected annual production exceeding 500,000 ounces by FY30, driven by the integration of Spartan’s high-grade Dalgaranga project and Ramelius’ Mt Magnet operations.
  • Synergistic benefits include greater operational flexibility, reduced capital expenditure, and increased processing capacity, creating significant economies of scale.

Ramelius Managing Director and CEO, Mark Zeptner, said, "This merger supercharges our growth trajectory, creating a leading Australian gold producer with exceptional exploration upside and robust financial strength."

The transaction is subject to Spartan shareholder and regulatory approvals, with completion expected in late July or early August 2025.