THE CONFERENCE CALLER: With the cannibalistic nature of Western Australian gold companies on show as they gobble up their contemporaries, watching them consider what could be next on the menu is fascinating.

Nobody loves gold more than those who explore, mine and produce it.

That love runs deep and was clearly on display at the Diggers & Dealers Mining Forum in Kalgoorlie this week.

On Day One of the conference attendees were treated to a public display of affection (PDA) by Ramelius Resources (ASX: RMS) director Mark Zeptner and recently appointed non-executive director and deputy chair Simon Lawson following Ramelius’ acquisition of Spartan Resources, of which Lawson was executive chairman.

The two men have enjoyed an antagonistic yet friendly rivalry over the journey, however, there was plenty of bonhomie on show for the punters in the auditorium of the Kalgoorlie Arts Centre.

“There’s lots of similarities in terms of structure,” Lawson said while indicating how the multiple Ramelius deposits in the Mt Magnet area, including the high-grade Break of Day deposit offer a healthy amount of exploration potential.

Ramelius may have snared what many market watchers consider being the biggest golden goose flying around, but this has not stopped others in the sector looking over their back fences for growth opportunities.

Capricorn Metals (ASX: CMM) is one that comes to mind.

Capricorn chief development officer Shane Clark informed the conference’s Day Two audience of that company’s recent acquisitional activities that he asserted would result in the company becoming a gold producer of some note.

The company’s Karlawinda gold project boasts a 1.4 million ounces of gold reserve, from which it has produced in four years since commencement 468,000 ounces of gold at All In Sustaining Costs of $1,311 per ounce raking in $622 million.

The mine is currently being expanded to be able to produce 150,000 ounces per annum.

The Mt Gibson gold project in the Mid-West region of WA was acquired in July 2021 and is a development project Clark described the company’s jewel in the crown.

Capricorn made the crown heavier by recently announcing its intentions to acquire Warriedar Resources (ASX: WA8), owner of the Golden Range Project (GRP), including the Ricciardo gold-antimony deposit and the Fields Find gold project.

“We believe Capricorn acquiring Warriedar is a strategic and logical consolidation of Western Australian south Murchison gold projects,” Clark told delegates.

Clark said the deal provided Capricorn with exposure to the Golden Range project’s value, “plus further derisking future funding and development requirements.”

“Capricorn has the operational experience and expertise to integrate the Golden Range project into the Mt Gibson Hub,” he continued.

He said the company aims to, “Develop an enhanced project to maximise value for all stakeholders.”

At a media presser following Zeptner’s and Lawson’s Day One presentation, the former admitted Ramelius could now very well be a potential takeover target for predators due mainly to the scenario of Mt Magnet becoming a long-life, 350,000 ounces per annum producer and the company’s stated ambition to become a 500,000 ounces per annum producer by 2030.

Capricorn is cashed up and has demonstrated a bent for Murchison acquisitions. Could Mt Magnet complement Mt Gibson? A meal of Ramelius with lima beans and a nice chianti sounds nice.