Doray and Silver Lake to merge

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.