https://www.miningweekly.com
Exploration|Gold|Resources|Operations
Exploration|Gold|Resources|Operations
exploration|gold|resources|operations

Doray/Silver Lake merger fair - independent report

18th February 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The director of gold miner Doray Minerals has urged shareholders to vote in favour of a merger with fellow-listed Silver Lake Resources, after an independent review found the offer to be both fair and reasonable.

The two companies in 2018 struck a scheme implementation deed, under which Doray shareholders will receive 0.6772 Silver Lake shares for every Doray share held, with Silver Lake shareholders holding a 62.7% interest in the combined company, and Doray shareholders a 37.3% share.

The merger will combine two high-grade gold operations, and will create a midtier company with a 2019 pro-forma production guidance of some 240 000 oz. The merged group will have a mineral resource base of 4.6-million ounces, with both the Deflector and Mount Monger operations offering a pipeline of in-mine and near-mine brownfield exploration targets.

Doray shareholders are expected to vote on the merger on March 22.

If the scheme is approved by the majority of Doray shareholders, and if it gains court approval, the merger would be complete by April.

Edited by Creamer Media Reporter

Comments

Projects

Image of lithium ore
Bougouni lithium project, Mali – update
Updated 2 hours 17 minutes ago By: Sheila Barradas

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.125 0.16s - 92pq - 2rq
Subscribe Now