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    Ramelius Resources (ASX:RMS) makes recommended takeover offer for Breaker Resources (ASX:BRB)

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    Ramelius Resources (ASX:RMS) and Breaker Resources (ASX:BRB) have entered into an agreement under which Ramelius will offer to acquire all the issued ordinary shares of Breaker by way of an all-scrip off-market takeover offer.

    Under the offer, Breaker shareholders will receive one Ramelius share for every 2.82 Breaker shares held at $0.40 based on the three-day volume weighted average price of Ramelius shares up to and including March 17 of $1.127.

    Ramelius Resources says the deal implies a total undiluted equity value for Breaker of about $130.7M.

    Breaker Resources owns the Lake Roe gold project in Australia's premier gold province and with a current total Mineral Resource Estimate of 32Mt @ 1.6g/t for 1.7 million ounces.

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