Ramelius Resources announced that it has completed the acquisition of the Marda gold project in Australia.


Image: Ramelius’ operations & development project locations. Photo courtesy of Ramelius Resources Limited.

Following  receipt  of Federal Court  approval to  transfer  the  shares of Black  Oak  Minerals Limited   (Administrators   Appointed) to   Ramelius on   31   January   2019, Ramelius subsequently paid the  final consideration  of $11.0  million,  marking  completion  of  the transaction.


Marda is located 191km north-northeast of Ramelius’ Edna May operations and represents a shear-controlled gold system within trucking distance of Edna May.

Work on development studies will now be finalised, with results to date demonstrating that utilising Marda as a satellite ore source to supply high-grade feed will extend mine life and maximise the value of existing infrastructure at Edna May.

Ramelius’ Managing Director, Mark Zeptner,today said: “The  successful  acquisition  of  the  Marda  Gold  Project  secures  additional  high-grade  ore within  trucking  distance  of  the  Edna  May  processing facility, reinforcing  Ramelius’ commitment to growth, and well and truly establishing Edna May as a new production hub.

“The team is already working on bedding down Marda as an additional ore source to enhance the value of operations at Edna May, with integration expected to commence by the middle of the calendar year.”

Source: Company Press Release