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(Kitco News) - Silver Lake Resources upped its bid to acquire St Barbara’s Leonora assets in Western Australia.
Total proposed consideration increased to A$722 million comprising of 327.1 million shares and an increased cash component of A$370 million cash, which was previously A$326 million.
"Silver Lake confirms it remains ready and willing to engage with the St Barbara board to explore a transaction that has the potential to be beneficial to both sets of shareholders, create a genuine mid-tier gold producer with immediate gold production of ~400koz p.a.," wrote the company.
