Do­ray and Sil­ver Lake to merge

The Australian Mining Review - - NEWS -

SIL­VER Lake Re­sources and Do­ray Min­er­als have en­tered into a bind­ing Scheme Im­ple­men­ta­tion Deed, which will see the two com­pa­nies merge.

Sub­ject to ap­proval, the merger would see the group own two high-grade gold oper­a­tions in WA with a min­eral re­source base of 4.6 mil­lion ounces, and FY19 pro-forma pro­duc­tion guid­ance of about 240,000 ounces.

Do­ray said both com­pa­nies recog­nised the chal­lenges of be­ing a sig­nif­i­cant pro­ducer in the gold busi­ness and this trans­ac­tion would po­si­tion them as a sus­tain­able player.

“Do­ray has taken great care to find a part­ner with aligned growth am­bi­tions…and Sil­ver Lake fits that bill,” Do­ray Min­er­als manag­ing direc­tor Leigh Junk said.

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