Ramelius extends Dioro bid

Ramelius Resources has extended its takeover offer for Dioro Exploration by one month as it increases its interest to 29 per cent.

The all-scrip offer was due to close today however Ramelius said the bid will be extended to December 2.

Ramelius is offering two of its shares for every Dioro share held.

Avoca Resources remains a big hurdle for Ramelius' takeover ambitions, with the gold miner holding a 44.85 per cent stake after its takeover for Dioro wrapped up in August.

Shares in Dioro closed down 2.5 cents to 79c while shares in Ramelius closed down two cents to 41c today.