Gold miner Ramelius Resources has completed its acquisition of Spartan Resources by way of a scheme of arrangement, positioning the merged group to pursue a production target of 500 000 oz/y within five years.

Under the terms of the deal, Spartan shareholders received 0.6957 Ramelius shares and A$0.25 in cash for each Spartan share held on the scheme record date of July 24, 2025. Shares in the combined entity are expected to begin normal trading on the ASX on August 1.

Spartan, which has been suspended from trading since July 22, will be removed from the ASX effective August 1.

The merger also brings several changes to the leadership structure of both companies. Simon Lawson has been appointed a nonexecutive director and deputy chairperson of Ramelius, with Deanna Carpenter joining as a nonexecutive director. Meanwhile, Mark Zeptner and Robert Vassie have joined Spartan’s board.

Several Spartan executives and board members have stepped down following the transaction. Lawson, David Coyne and Craig Jones’ executive roles at Spartan have been made redundant, and Coyne has resigned as executive director and joint company secretary. Nonexecutive directors Mark Hine and Anna Neuling have also stepped down. Tejal Magan will remain as Spartan’s company secretary during a transitional period.

“At Ramelius’ discretion, Mr Lawson and Ms Carpenter will retain their positions as Spartan directors during the period in which Spartan’s annual report for the financial year ended 30 June 2025 is finalised,” the company stated.

“On behalf of everyone at Ramelius, I welcome Spartan’s team and its shareholders to our company. We strongly believe that this will be a transformational combination bringing together a highly regarded producer with a successful explorer, as we embark towards our newly founded vision of being a 500 000 oz producer within five years," said Ramelius MD Zeptner.

“The Ramelius team looks forward to completing the integration of the Dalgaranga asset into our portfolio, building on the collaboration that Spartan has been open to during the scheme process.”