Mid-tier gold producers Silver Lake Resources and Red 5 have announced their intention to merge, with a combined entity to have a market cap of about $2.2 billion.
The Gascoyne Resources board has urged shareholders to reject a $110 million takeover offer from Westgold Resources, labelling the deal as “inadequate”.
Gascoyne Resources is set to extend the life of its Dalgaranga operations near Mt Magnet through an all-scrip purchase of Firefly Resources, whose assets include a nearby gold project.
Gascoyne Resources has relisted on the ASX, following a $125 million recapitalisation that helped the embattled goldminer repay its creditors and continue mining operations.
Our board moves wrap includes Brett Morgan, John Kolenda, George Bauk, Rowan Johnston, Richard Hay, Stuart McKenzie, Christopher Knee, and Graeme Smith.
Our daily board moves wrap includes Michael Pivac, Aidan Flynn, Simon Amos, Sally-Anne Layman, Mark Le Messurier, Michael Ball, Tanugula Rao, Geoffrey Clifford, Joe Graziano, and Mauro Balzarini.
Dampier Gold has made its chief executive Richard Hay redundant as part of cost-cutting initiatives.Mr Hay joined the company in 2010 as chief operating officer.
