Silver Lake Resources and Doray Minerals a step closer to their merger

Company News

by Rachael Jones

The merger of gold miners Silver Lake Resources (ASX:SLR) and Doray Minerals (ASX:DRM) is a step closer after Doray's largest shareholder, Perennial Value Management, has provided them with a written statement confirming its intention to vote its shares in favour of the Share Scheme, subject to no superior proposal emerging.

The deal announced in November brings together their underground operations, which collectively are expected to generate 240,000 ounces of gold sales this financial year.

The Scheme Implementation Deed was announced to the ASX on 14 November 2018 and the Scheme Booklet is dated 18 February 2019.

Shares in Doray Minerals (ASX:DRM) closed 1.03 per cent higher to 49 cents yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.