All tagged Silver Lake Resources ASX:SLR
Next Friday, Doray Minerals shareholders will be asked to approve a merger with Silver Lake Resources to create a $600 million, two-mine ASX-listed gold producer with pro-forma production of 240,000 ounces a year and a resource base of 4.6 million ounces. This merger of two Perth-based companies is the biggest response yet by ASX-listed stocks to global investor interest in industry consolidation.
Riding on the back of successful events last year, the Investor Insight Rooftop Series has returned to Bob’s Bar in 2019 with another diverse trio of guest speakers putting their companies on display.
Doray Minerals (ASX: DRM) has delivered shareholders an early Christmas present with the signing of a binding term sheet to divest the non-core Andy Well and Gnaweeda gold projects to Westgold Resources (ASX: WGX) for $15 million in cash and shares. The deal replaces an earlier announcement arrangement with Canadian group Galane, which has been terminated. Doray expects completion of the deal with Westgold to be completed in February. The proposed deal has no impact on Doray’s agreed merger with Silver Lake Resources (ASX: SLR).
The gold sector focused on Doray Minerals and Silver Lake Resources this week after the two WA-based gold producers announced a nil-premium merger to create a $400 million mid-tier ASX-listed company with pro-forma production this year of 240,000 ounces of gold and gold equivalents. After some initial selling by investors, Doray and Silver Lake returned to the winner’s list on Friday to end the week on a high.