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Ramelius to buy Spectrum and Penny West

Successful Australian gold miner Ramelius Resources is acquiring the high-grade Penny West gold deposit via a A$228 million (US$153 million) mainly scrip takeover of Spectrum Metals.

Ramelius to buy Spectrum and Penny West Ramelius to buy Spectrum and Penny West Ramelius to buy Spectrum and Penny West Ramelius to buy Spectrum and Penny West Ramelius to buy Spectrum and Penny West

The gold beneath the historical Penny West pit in Western Australia is very attractive to Spectrum Metals suitor Ramelius Resources

The Spectrum board-agreed deal includes a 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