Nov 12 (Reuters) - EXPLAURUM LTD EXU.AX :
* ASX ALERT-UPDATE ON RAMELIUS TAKEOVER OFFER,RMS-EXU.AX
* HAS RECEIVED OFFER FROM RAMELIUS FOR AN INCREASE IN CONSIDERATION WITH RESPECT TO CURRENT OFFER
* AS A RESULT OF PROPOSAL, CO HAS GRANTED RAMELIUS A LIMITED PERIOD OF CONFIRMATORY DUE DILIGENCE IN RELATION TO TAMPIA GOLD PROJECT
* PROPOSAL OUTLINES ADDITION OF 5 CENTS CASH PER EXPLAURUM SHARE TO CONSIDERATION UNDER CURRENT OFFER
* CONTINUES TO RECOMMEND THAT EXPLAURUM SHAREHOLDERS REJECT CURRENT INADEQUATE TAKEOVER OFFER FROM RAMELIUS