https://www.miningweekly.com

Andy Well sale flounders

1st March 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Doray Minerals and fellow-listed Westgold Resources have tanked an agreement over the Andy Well and Gnaweeda gold projects.

The two companies in December of last year struck a deal under which Westgold would acquire the Andy Well and Gnaweeda gold projects for up to A$15-million in cash and shares.

However, the two companies on Friday announced that certain conditions of the term sheet could not be met or waived by the agreed-upon date.

Doray told shareholders that the termination of the agreement with Westgold would not affect its merger with ASX-listed Silver Lake Resources, with the Doray board continuing to unanimously recommend that shareholders vote in favour of the merger.

Doray noted that options for the Andy Well and Gnaweeda projects would be re-evaluated following the implementation of the merger, with a view to delivering an outcome that would be in the best interests of shareholders.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.043 0.804s - 110pq - 2rq
Subscribe Now