Silver Lake revises competing offer for ST Barbaras Leonora assets

Silver Lake Resources Limited (ASX: SLR) has submitted a revised indicative proposal to St Barbara Limited to acquire St Barbara’s Leonora assets in Western Australia. The total proposed consideration under the Revised Silver Lake Proposal is valued at AU$707 million, comprising AU$326 million cash and 327.1 million Silver Lake shares valued at AU$381 million.

After the proposed transaction is completed, St. Barbara will be able to keep roughly 7.5%, or 94.8 million, of Silver Lake's issued shares, according to the Revised Silver Lake Proposal. The company has also stated that the revised proposal is supported by AU$268 million in cash as at 31 March 2023 and a US$150 million credit approved debt facility to be provided by Taurus Mining Finance Fund No 2 LP.

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