Ramelius Completes Spartan Deal, Eyes 500,000 Ounce Gold Production
Ramelius Resources has finalized its acquisition of Spartan Resources, issuing new shares and cash to Spartan shareholders while expanding its board and asset portfolio. This move aims to accelerate Ramelius' growth toward becoming a half-million ounce gold producer within five years.
- Acquisition of Spartan Resources completed via scheme of arrangement
- Spartan shareholders receive 0.6957 Ramelius shares plus $0.25 cash per share
- Spartan to be delisted from ASX effective 1 August 2025
- New directors appointed to Ramelius board, Spartan executives made redundant
- Dalgaranga asset integrated into Ramelius portfolio, production expansion targeted
A Strategic Acquisition Finalized
Ramelius Resources Limited (ASX – RMS) has officially completed its acquisition of Spartan Resources Limited (ASX – SPR), marking a significant milestone in its growth trajectory. The transaction, executed through a scheme of arrangement, saw Spartan shareholders receive a combination of new Ramelius shares and cash, reflecting a carefully structured deal designed to align interests and facilitate integration.
With all Spartan shares now transferred, Ramelius issued 0.6957 new shares plus $0.25 cash for each Spartan share held as of the record date. The new Ramelius shares are set to begin trading on the ASX on 1 August 2025, signaling the start of a new chapter for the combined entity.
Boardroom and Leadership Changes
The acquisition has brought notable changes to the leadership landscape. Simon Lawson and Deanna Carpenter have joined the Ramelius board as Non-Executive Directors, with Lawson also appointed Deputy Chair. Meanwhile, several Spartan executives, including Lawson himself in an executive capacity, have been made redundant or resigned, reflecting a consolidation of management roles. Ramelius Managing Director Mark Zeptner has also taken a directorship role at Spartan during the transition.
These shifts underscore Ramelius' intent to streamline operations and integrate Spartan’s assets and personnel effectively, while maintaining transitional continuity through temporary appointments such as Company Secretary Tejal Magan.
Delisting and Integration of Spartan
Following the acquisition, Spartan will be delisted from the ASX effective 1 August 2025, after its shares were suspended on 22 July. This delisting marks the full absorption of Spartan into Ramelius, with the Dalgaranga asset; a key component of Spartan’s portfolio; now part of Ramelius’ expanding footprint.
Mark Zeptner highlighted the transformational nature of the deal, emphasizing the combination of a respected producer with a successful explorer. The integration of Dalgaranga is expected to bolster Ramelius’ production capabilities as it pursues an ambitious target of producing 500,000 ounces of gold annually within five years.
Looking Ahead
While the immediate focus is on smooth integration and operational alignment, the acquisition positions Ramelius to leverage Spartan’s assets and expertise to accelerate growth. Investors will be watching closely for updates on production ramp-up, cost synergies, and how the expanded board navigates the challenges of scaling up.
Bottom Line?
Ramelius’ Spartan acquisition sets a bold growth course, but execution will be key to unlocking its full potential.
Questions in the middle?
- How will the integration of Spartan’s Dalgaranga asset impact Ramelius’ production profile in the near term?
- What cost synergies or operational efficiencies does Ramelius anticipate from the acquisition?
- How will the new board composition influence strategic priorities and risk management?
