Spartan acquires full control of Dalgaranga exploration tenure
Ramelius Resources takeover target Spartan Resources has moved to consolidate its ownership of key exploration tenements at the Dalgaranga project in Western Australia, acquiring the remaining 20% stake it did not already own in a A$2.5-million cash deal.
The company, which previously held 80% interests in four tenements under two unincorporated joint ventures (JVs), said on Thursday that the agreements with private holders would dissolve the existing JVs and give Spartan 100% control of E59/1904, E59/1906, E21/195 and E59/1709.
Completion was expected in the coming days, with the acquisition funded from Spartan’s existing cash reserves.
“We are pleased to be able to consolidate the tenure immediately adjacent to our flagship Dalgaranga gold project,” said executive chairperson Simon Lawson.
“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. A number of prospects on these tenements have been identified as being prospective for mineralisation similar to Never Never and Pepper and will be the subject of future exploration programmes.
“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," stated Lawson.
The Dalgaranga project is anchored by the Never Never and Pepper deposits, which Spartan is positioning as the foundation for a restart of mining operations. The consolidation is expected to streamline future development, exploration planning, and integration with the proposed transaction involving Ramelius Resources.
Ramelius announced last month that it would buy Spartan in a cash-and-scrip transaction valuing the developer at A$2.4-billion.
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