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Australian gold producer Red 5 to acquire Silver Lake
Australia-based Red 5 has signed a binding scheme implementation deed to acquire compatriot Silver Lake Resources, enabling the formation of a diversified mid-tier gold company. The company resulting from this “merger of equals” is expected to produce 445,000oz annually for FY2024, underpinned by ore reserves of four million ounces and a mineral resource inventory of 12.4 million ounces. It will have four mining hubs in tier 1 gold jurisdictions, located in Western Australia as well as Ontario. The deal will see Red 5 acquiring all shares of Silver Lake, with Silver Lake shareholders set to receive 3.434 Red 5 ... (full story)