Ramelius Resources, the operator of the Mount Magnet gold mine, is expanding with a buyout offer for Musgrave Minerals, which is developing a project in the same region in Western Australia.

The offer values Musgrave at about $201 million and was unveiled on Monday, a week after Musgrave knocked back Westgold Resources. It comes as Ramelius continues to integrate Breaker Resources and its Lake Roe gold project near Kalgoorlie following a $130.7 million takeover of that company.