Mid-tier gold miner Ramelius Resources is set to formally bring the Tampia gold project near Narembeen under its banner after hitting the threshold to mop up minority investors holding out in its takeover of gold junior Explaurum.

Its initial US$41 ($59) million all-scrip offer failed to move Explaurum shareholders and its John Lawton-led board but they were brought onside when Ramelius added a US$0.41 ($0.2)-a-share cash bonus to the deal late last year.

With more than 90 per cent of its target yesterday, Mark Zeptner’s Ramelius is poised to compulsorily acquire the rest of the company.

It will herald the start of Ramelius’ work to review the 485,000-ounce gold project, which was planned to be developed as the first standalone gold mine in the remote Wheatbelt community under Explaurum’s control.

Analysts view Tampia as a potential satellite pit for Ramelius’ Edna May gold mine, 130km north-east near Westonia, where a decision to head underground to expand the mine will leave its processing plant hungry for feed.

The acquisitive Ramelius, which bought Edna May in late 2017 from Evolution Mining and also operates the Mt Magnet and Vivien mines in the northern Goldfields, has been eager to add to its 200,000oz per annum portfolio.