Gascoyne Resources Limited (AU:SPR) has released an update.
Ramelius Resources Limited has emerged as a substantial holder in Spartan Resources Limited, acquiring a 8.92% stake with 98,530,331 fully paid ordinary shares. The acquisition was made on-market, with Ninghan Exploration Pty Limited, part of the Ramelius Group Entities, as the registered holder of these shares. The considerable cash consideration for this transaction, totaling over A$87.5 million, signifies a strategic move by Ramelius in the mining and exploration sector.
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