Westgold Resources (ASX:WGX) holds still on offer for Musgrave Minerals

Westgold Resources (ASX: WGX) has confirmed it will not improve its offering for Musgrave Minerals (ASX:MGV) in response to a takeover bid by Ramelius Resources (ASX:RMS) for Musgrave.

Ramelius' offer comprises $0.04 cash and 1 Ramelius share for every 4.21 Musgrave shares.

Westgold has made an all-scrip offer consideration of 1 Westgold share for every 5.37 Musgrave shares, which will not be altered or extended.

Shares of Westgold Resources closed up around 2% today.