{"id":11576,"date":"2024-06-27T06:39:10","date_gmt":"2024-06-27T06:39:10","guid":{"rendered":"https:\/\/economicherald.net\/?p=11576"},"modified":"2024-06-27T06:39:10","modified_gmt":"2024-06-27T06:39:10","slug":"monsters-of-rock-ramelius-carves-out-9pc-stake-in-spartan","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11576","title":{"rendered":"Monsters of Rock: Ramelius carves out 9pc stake in Spartan"},"content":{"rendered":"<p>Gold miner Ramelius Resources purchases 98.5m shares for an 8.9% stake in Spartan Resources<br \/>\nRamelius says it has \u201cno current intention\u201d to takeover the neighbouring gold explorer<br \/>\nLynas now able to produce high-value separated dysprosium and terbium from its Malaysian plant\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><strong>$2.2bn market-capped gold heavyweight Ramelius Resources has taken a strategic bite into fellow WA gold company Spartan Resources, eating up a 8.9% stake in the company.<\/strong><\/p>\n<p>With takeovers and mergers happening left, right and centre in WA\u2019s gold scene at the moment (the Red 5 and Silver Lake Resources merger was recently finalised), <a href=\"https:\/\/stockhead.com.au\/company\/ramelius-resources-rms\/\"><strong>Ramelius Resources (ASX:RMS)<\/strong><\/a> was quick to put salt on rumours it was about to do the same with <a href=\"https:\/\/stockhead.com.au\/company\/spartan-resources-spr\/\"><strong>Spartan Resources (ASX:SPR)<\/strong><\/a>.<\/p>\n<p>\u201cSubject to the actions of Spartan or any third party, Ramelius has no current intention to acquire control or make a takeover offer for Spartan,\u201d the miner said in an announcement today.<\/p>\n<p>However, the mining major has bought 98.5 million shares for almost 9% of Spartan and is likely impressed by the multiple recent exploration results at the Dalgaranga gold project, where it\u2019s proving up the high-grade Never Never deposit and surrounding prospects.<\/p>\n<p>\u00a0<\/p>\n<h2>Dalgaranga\u2019s high-grade gold<\/h2>\n<p>Never Never currently has a 3.83Mt resource for 721,200oz gold and that\u2019s set to grow, as drilling of target extensions at depth and along strike of the deposit are ongoing.<\/p>\n<p>Recent his this month include a deep high-grade gold intersection of over 30m at 12.12g\/t gold at the adjacent Pepper prospect and a hit of a whopping 92.19g\/t in the same hole.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/spartan-to-blow-the-lid-off-dalgaranga-with-five-upcoming-resource-estimates\/\">Exploration and resource upgrade results are highly anticipated<\/a>, as Spartan looks forward towards development.<\/p>\n<p>Ramelius itself has an enviable portfolio with multi-stage operations and development projects that that are underpinned by the long-life low-cost Mt Magnet mine.<\/p>\n<p>\u201cWe also have extensive greenfield exploration opportunities and our investment into Spartan Resources provides us with a strategic addition to the portfolio,\u201d CEO Mark Zeptner says.<\/p>\n<p>That enviable portfolio also has a cash and gold balance of $446m, so it\u2019s no wonder it\u2019s putting the feelers out into projects nearby.<\/p>\n<p>\u00a0<\/p>\n<h2>REE separation boon<\/h2>\n<p>Elsewhere, one of the world\u2019s only ex-China rare earths producers <a href=\"https:\/\/stockhead.com.au\/company\/lynas-lyc\/\"><strong>Lynas (ASX:LYC)<\/strong><\/a> is targeting first production of two valuable heavy rare earths \u2013 dysprosium and terbium (DyTb) \u2013 from its Malaysian processing facility.<\/p>\n<p>The elements are both crucial for use in high performance rare earth permanent magnets used in EVs and high-tech applications such as micro-capacitors which are essential to all electronic devices.<\/p>\n<p>The material is shipped from Lynas\u2019 Mt Weld ore body and is currently sold at a lower rate as a mixed HRE compound known as SEGH, so news of having the ability to do the separation itself is seen as a value-add for the miner.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Today\u2019s Best Miners <\/strong><strong><\/strong><\/h2>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/oceana-lithium-ocn\/\"><strong>Oceana Lithium (ASX:OCN)<\/strong><\/a> (lithium) +38.7%<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/iris-metals-ir1\/\"><strong>Iris Metals (ASX:IR1)<\/strong><\/a> (lithium) +25.5%<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/international-graphite-ig6\/\"><strong>International Graphite (ASX:IG6)<\/strong><\/a> (graphite) +22.2%<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Today\u2019s Worst Miners <\/strong><strong><\/strong><\/h2>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/diablo-resources-dbo\/\"><strong>Diablo Resources (ASX:DBO)<\/strong><\/a> (gold) -27.3%<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/summit-minerals-sum\/\"><strong>Summit Minerals (ASX:SUM)<\/strong><\/a> (lithium and REEs) -17.4%<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/north-stawell-minerals-nsm\/\"><strong>North Stawell Minerals (ASX:NSM)<\/strong><\/a> (gold) -20%<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\"><\/span>\u00a0<\/p>\n<p><em>At Stockhead we tell it like it is. While Spartan Resources is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/monsters-of-rock-ramelius-carves-out-9pc-stake-in-spartan\/\">Monsters of Rock: Ramelius carves out 9pc stake in Spartan<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Gold miner Ramelius Resources purchases 98.5m shares for an 8.9% stake in Spartan Resources Ramelius says it has \u201cno current intention\u201d to takeover the neighbouring <a href=\"https:\/\/economicherald.net\/?p=11576\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11577,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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