Silver Lake raises capital

The dramatic fall in gold prices earlier this year rattled a few nerves. Equity prices plunged; miners cut costs; and banks called in loans. Silver Lake Resources hasn’t been spared the reckoning and is raising capital to pay down debt and insulate the business from further gold price weakness. Silver Lake will raise up to $67.3m, $47.5m of which will be raised from the issue of 56m new shares in an institutional placement at 85 cents per share. A further $15m will be raised from a share purchase plan, allowing existing shareholders to participate in the raising at the...

The dramatic fall in gold prices earlier this year rattled a few nerves. Equity prices plunged; miners cut costs; and banks called in loans. Silver Lake Resources hasn’t been spared the reckoning and is raising capital to pay down debt and insulate the business from further gold price weakness.

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