‘We are the golden goose’: Gold bosses Mark Zeptner and Simon Lawson bask in Diggers glory

After combining their companies in one of WA’s top deals, gold lads Mark Zeptner and Simon Lawson are reassured the pro-mining State Government won’t kill their “golden goose”.

This time last year the mining bosses were trading jibes via investor calls as to whether one had the “firepower” to acquire the other’s company.

Twelve months on, the duo on Monday shared the stage at the Diggers & Dealers Mining Forum, stepping out future plans for Ramelius Resources, which is digesting Spartan Resources after an agreed $2.5 billion cash and share deal.

The merger of the acquisitive Murchison mid-tier and an explorer regarded as one of the biggest gold exploration success stories of 2024 came during a startling run in gold prices.

That run —which hit a record of $US3500 an ounce in April — has yet again seen the yellow metal retain its crown as the top commodity at the annual mining conference in Kalgoorlie-Boulder that kicked off on Monday.

And with a bolstered market value of $4.8b, ex-Spartan boss Mr Lawson reckons Ramelius has been vaulted into a new category of takeover target.

The newly merged group’s project portfolio comprises two anchor processing hubs at Mt Magnet and Edna May, now augmented with the mothballed Dalgaranga mill and Spartan’s Never Never deposit.

“I think maybe the combination has actually made Ramelius combined a bit of a target for bigger players,” Mr Lawson jibed on Monday.

As part of the merger, ex-Spartan chief Mr Lawson has taken on the roles of non-executive director and deputy chair of the merged group.

Pried for more detail on the new gigs, he said he wanted to make clear he was “not trying to take trying to take Mark’s job”.

“What I am trying to do is support Mark in his job,” he said.

“It’s a position I have occupied in the past for other captains of industry, and I’ve got a lot of respect for Mark.

“And what I want to do is add exploration strategy . . . and help with that aspect.”

Strong prices have meant good news for the royalties flowing into WA. Though at current rates, gold miners only pay the State 2.5 per cent of the value of the minerals they sell.

Much to the relief of the WA gold mining world, a spokesman for Mines Minister David Michael earlier this year hosed down any speculation more royalties could flow back to State coffers.

“Unequivocally no,” he said in February.

Asked whether the continued price increases might reignite the discussion, Ramelius boss Mr Zeptner said the State Government understood that “we are the golden goose, and they don’t want to kill it”.

“It’s not like the miners get all of the uplift in gold price. The Government gets more as the gold price goes up as well so it doesn’t mean you have to then raise the royalty rate on top of that.”

Mr Lawson said a recent State Government decision to intervene on charging explorers on miscellaneous mining licences showed it was “paying attention” to the sector.

“So I don’t think they’re going to come after the gold royalty argument again, but we’ll see.”