Investors in St Barbara say it is too soon to say whether Silver Lake Resources’ revised $722 million cash and scrip offer for the Gwalia gold mine and processing plant will convince the gold producer to enter formal discussions – and all may depend on how its share price moves on Monday.
Silver Lake, which is pursuing St Barbara’s West Australian assets, improved its bid to some $722 million on Friday night. That is a 16.9 per cent valuation premium to Genesis Minerals’ $631 million cash and scrip bid, with both bids now offering a $370 million cash component.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
