https://www.engineeringnews.co.za

Ram to acquire additional 70% stake in Fraser Range project

3rd July 2013

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Ram Resources has entered into an agreement with Regency Mines to acquire a further 70% interest in the Fraser Range project, in Western Australia.

The project comprises three exploration licences, covering 271 km2. The licences covered about 50 km of the Yilgarn craton margin and were considered prospective for gold and base metals mineralisation.

Ram already held a 10% interest in the project.

To acquire the additional 70% stake in the project, Ram would issue Regency shares representing 19.9% of Ram's issued capital, as well as 340-million Class A performance shares to be convertible to Ram shares upon the delineation of a Joint Ore Reserves Committee-compliant inferred resource of 300 000 oz gold equivalent and 340-million Class B performance shares to be convertible to Ram shares if a decision is made to mine on the tenements.

The finalisation of the agreement was subject to regulatory and shareholder approvals, as well as to Ram raising a minimum of A$1.5-million.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.062 0.915s - 140pq - 2rq
Subscribe Now