Doray/Silver Lake merger fair - independent report

The director of gold miner Doray Minerals has urged shareholders to vote in favour of a merger with fellow-listed Silver Lake Resources, after an independent review found the offer to be both fair and reasonable.

The two companies in 2018 struck a scheme implementation deed, under which Doray shareholders will receive 0.6772 Silver Lake shares for every Doray share held, with Silver Lake shareholders holding a 62.7% interest in the combined company, and Doray shareholders a 37.3% share.