Ramelius acquiring Musgrave Minerals, owner of Cue Gold Project

Ramelius Resources Limited (ASX: RMS) and Musgrave Minerals Limited (ASX: MGV) have announced a Bid Implementation Agreement (BIA). As part of the agreement, Ramelius plans to present an off-market takeover offer (the Offer) involving cash and scrip to acquire all the outstanding ordinary shares of Musgrave.

Ramelius, a leading Australian gold producer, aims to acquire Musgrave Minerals Limited, the owner of the Cue Gold Project (Cue Project) in Western Australia, through a highly recommended cash and scrip off-market takeover offer (Offer). The Offer entitles Musgrave shareholders to an implied Offer price of AU$0.342 per share (Offer Price), comprising 1 Ramelius share for every 4.21 Musgrave shares held and an extra AU$0.04 in cash per Musgrave share held. The Offer Price indicates a total undiluted equity value of AU$201 million for Musgrave.

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