Spartan Resources secures full ownership of Dalgaranga tenements
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The news: Gold miner Spartan Resources has agreed to buy the remaining 20% interest that it does not already own in a portfolio of exploration tenements at its flagship Dalgaranga gold project in Western Australia.
The numbers: Spartan currently holds an 80% stake in the four exploration tenements at Dalgaranga, with private parties holding the remaining 20% interest.
The miner has agreed to buy out the remaining interest for a cash consideration of $2.5 million.
The context: Spartan, which is set to be acquired by its larger rival Ramelius Resources, said the purchase is expected in the coming days and will be funded from its current cash balance.
What they said: "Moving to 100% ownership provides us with operational flexibility as we progress forward with making a re-start decision at Dalgaranga underpinned by the high-grade Never Never and Pepper underground deposits," said Spartan's executive chairman Simon Lawson.
"Outright ownership of the Dalgaranga exploration tenements assists in simplifying aspects of our business model as we continue to progress the steps required to implement the transaction with Ramelius that we announced on 17 March 2025," he said.
The source: ASX
