• Vision to be a +500koz/pa producer by FY30
• Combination creates a leading Australian gold producer with supercharged growth profile and exploration upside
• Accelerated and de-risked development of Dalgaranga

Ramelius Resources Limited (ASX: RMS) and Spartan Resources Limited (ASX: SPR) have entered into a binding Transaction Implementation Deed under which Ramelius will acquire all of the issued ordinary shares of Spartan that it does not already own. The consideration will be A$0.25 in cash and 0.6957 new Ramelius shares for each Spartan share, implying a value of A$1.78 per Spartan share and a fully-diluted equity value for Spartan of ~A$2.4 billion. This represents a premium of 11.3% to Spartan's last closing price and 27.5% to its 30-day VWAP. The transformational combination will create a leading Australian gold producer with a supercharged growth profile and exceptional potential exploration upside. The Combined Group will have a Mineral Resource estimate of 12.1Moz Au and Ore Reserve of 2.6Moz Au. The vision is to increase production to +500koz by FY30. The combination matches Spartan's excess processing capacity and high-grade Mineral Resource with Ramelius' large Mineral Resource, operating plant and proven operational team. The Spartan Board has unanimously recommended the transaction, and three of Spartan's top shareholders have confirmed their intention to vote in favor of the Scheme.

The Combined Group is targeting +500koz/pa production by FY30.

The transformational combination will create a leading Australian gold producer with a supercharged growth profile and exceptional potential exploration upside. The vision is to increase production to +500koz/pa by FY30.