Ramelius proposes to pay $0.02 in cash per share to Explaurum shareholders, in addition to the previously announced all-scrip offer of one Ramelius share for every four shares of Explaurum.
Both based in Australia, Ramelius Resources is engaged in the exploration and development of mineral resources, while Explaurum is engaged in gold exploration.
The transaction is expected to increase Newcrest’s stake in SolGold to 15.33% from the previous 13.83%.
Newcrest will hold 283.46 million shares in SolGold, following the transaction.
Newcrest Mining focuses on exploration, development, mining, and sale of gold and gold-copper concentrate, while SolGold is engaged in gold and copper mining. Both the companies involved in the transaction are based in Australia.
The transaction is a continuation to the sale and purchase agreement entered by the two companies in July. The total consideration includes an agreed amount of R1.863bn ($130.94m), and R315m ($22.14m) as repayment of RPM’s contribution into the BRPM JV.
RBR paid R555m ($40m) in cash on the completion of transaction and has agreed to pay the remaining amount to Amplats in three equal tranches.
RPM will continue to hold the right to process 50% of the concentrate from the JV during its mine life and termination right on the balance 50% of the concentrate, as part of the agreement.
RPM is a subsidiary of Amplats, the world’s biggest primary producer of platinum, while RBPlat is engaged in exploring platinum resources. Both firms are based in Africa.