Silver Lake Resources and Integra Mining have reached an agreement to combine the two companies and create a substantial gold firm with multiple Australian operating mines and mills.
The combined company, which will be 40% owned by Integra shareholders, currently has annual production of 200,000 ounces and combined mineral resources of 6.6 million ounces.
The firm also have the ability to unlock significant operational synergies between the adjacent Mount Monger and Randalls gold projects in the Eastern Goldfields of Western Australia.
In addition, the enlarged Silver Lake will have two mills with 2.2 million tonnes per annum of annual milling capacity in the same region.
The transaction, which has been unanimously recommended by the boards of both companies, will be implemented via an Integra scheme of arrangement.
