Musgrave Minerals recommends acceptance of Ramelius offer

–News Direct–

Musgrave Minerals Ltd (ASX:MGV) managing director Rob Waugh tells Proactive the companys board continues to unanimously recommend to shareholders that they accept the takeover offer by top 10 Australian gold producer Ramelius Resources Ltd in the absence of a superior proposal.

This comes as Ramelius, through wholly-owned subsidiary Mt Magnet Gold Pty Ltd, surpassed a 17.71% interest in Musgrave last week and the offer from previous suitor Westgold Resources Ltd closed and lapsed given the offer conditions were not all fulfilled or waived.

Ramelius, a top 10 Australian gold producer, has the financial capacity, operational experience and exploration expertise to continue the significant work done by Musgrave with a view to expand the existing resource and develop the Cue Project, in order to maximise the value of the project for both sets of shareholders.

he Ramelius offer is scheduled to close at 7:00pm (Sydney time) on August 18, 2023, unless extended or withdrawn by Ramelius.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/musgrave-minerals-recommends-acceptance-of-ramelius-offer-225645880

Musgrave Minerals Ltd

COMTEX_437608640/2655/2023-07-31T10:39:31