Allion is acting for Ramelius Resources Ltd (ASX: RMS) in its takeover offer to acquire Spectrum Metals Limited (ASX: SPX), owner of the high grade Penny West Gold Project. Spectrum’s Directors have unanimously recommended that their shareholders accept the offer.

The acquisition of Spectrum is in line with Ramelius’ philosophy of acquiring high quality assets within a radius of existing production hubs that facilitate mining and ore haulage without incurring significant on-site capital expenditure.