Ramelius Resources Ltd. presented a nonbinding proposal to Explaurum Ltd. for an increase in consideration of 5 Australian cents cash per Explaurum share in addition to the previous takeover offer of 1 Ramelius share for every 4 Explaurum shares.
The company said Nov. 12 that it intends to expedite a confirmatory due diligence process to transition the new proposal into a firm agreement.
Additionally, Ramelius extended its previous offer to Dec. 21.
