Gold miner Ramelius Resources has reached a 90% shareholding in takeover target Spectrum Metals, with the miner now moving to the compulsory acquisition of all the remaining shares in Spectrum.
Ramelius earlier this year launched its takeover offer for Spectrum Metals, offering that company’s shareholders one Ramelius share for every ten Spectrum shares held, in a bid to obtain the high-grade Penny West gold project, in Western Australia.