Karora's Higginsville mine in Western Australia
Karora Resources, a Western Australia-focused mining company listed on the TSX, announced on Wednesday that it has concluded discussions with Ramelius Resources and that it is now exploring potential merger opportunities with a new, undisclosed third party.
Karora and Ramelius previously confirmed exclusive negotiations regarding a potential corporate transaction.
However, despite efforts, no final agreement, including on value, could be reached, Ramelius revealed in a statement to the ASX on Thursday.
Karora owns the Beta Hunt gold mine and Higginsville gold operations in Western Australia.