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Karora Resources Inc KRRGF


Primary Symbol: T.KRR

Metals & Mining Gold
Karora Resources Inc. is a Canada-based multi-asset mineral resource company. The Company’s portfolio includes the Beta Hunt Underground Mine, Higginsville Gold Operations and Lakewood Mill. It owns 100% of Beta Hunt, a gold-producing mine located approximately 600 kilometers from Perth in Kambalda, Western Australia. It owns and operates HGO, which is located approximately 75 kilometers south of the Beta Hunt Mine in Higginsville, Western Australia. HGO has a mineral gold resource and reserve and prospective land package totaling approximately 1,900 square kilometers. The operation includes a 1.6 million tons per annum (Mtpa) processing plant, 192 mining tenements, including the Aquarius, Hidden Secret, Mousehollow, Two Boys, Baloo, Pioneer, Fairplay North, Mitchell, Wills, Challenge and Mount Henry deposits. The Lakewood Gold Mill is located just outside Kalgoorlie, Western Australia and approximately 60 kilometers from the Beta Hunt Mine, has a processing capacity of 1.0 Mtpa.


TSX:KRR - Post by User

Karora Resources Inc > Ramelius objecting to terms of KRR-WGX merger
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Post by MVargason May 28, 2024 10:11pm
293 Views
Post# 36061544

Ramelius objecting to terms of KRR-WGX merger

Ramelius objecting to terms of KRR-WGX mergerRamelius Resources Limited has filed an application with the Takeovers Panel regarding the affairs of fellow gold mining company Westgold Resources Limited, following Westgold’s announcement of an acquisition agreement with Karora Resources Inc. Ramelius is contesting the agreement’s exclusivity arrangements, which it believes act as an ‘unacceptable lock up device’ and are misleading due to the disclosure of estimated synergies. The application challenges the enforceability of the Arrangement Agreement and the size of the termination fee, while seeking corrective disclosure.

News Release

Not sure what Ramelius's motive for this filing is.  Is it still interested in making a takeover offer for KRR?

Currently WGX.AX up almost 5% to $2.255 (which equates to a KRR share price of C$5.78) while RAM is down almost 2%.  
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