Ramelius Resources Limited is buying Holleton Project for $1M from Element 25

  • Jul 31, 2018 AEST
  • Team Kalkine
Ramelius Resources Limited is buying Holleton Project for $1M from Element 25

Buying Holleton Project: Ramelius Resources Limited?s (ASX: RMS) stock fell 1.8% on July 31, 2018 (before market close) after Element 25 signed an agreement with RMS and wholly owned RMS subsidiary Edna May Operations Pty Ltd (EMO) for the sale of the Holleton Project. The purchase is for the consideration of $1M payable in either cash, shares or any combination thereof at EMO?s election. As per the agreement, EMO will acquire 100% of the Holleton Project. The transaction settlement is expected to occur within sixty days, however is subject to the satisfaction of certain conditions. Meanwhile, RMS stock has risen 6.73% in three months as on July 30, 2018 and is trading at a P/E of 15.99x.

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