Australia's Silver Lake Resources faces worst week since August on merger with Red 5

Vault Minerals

09/02/2024 24:41

** Shares of Silver Lake Resources  SLR.AX  set for their
biggest weekly fall since early August 2023, down about 13.8%   
  
    ** Gold miner announced earlier this week a merger with peer
Red 5  RED.AX  to build a mid-tier gold co valued at $1.5 bln 
    ** Stock down 3.1% at A$1.085, as of 0025 GMT; Red 5 shares
fall as much as 3.8% to A$0.318 
    ** Red 5 stock down about 3% so far in the week, after four
consecutive weeks of gains  
    ** SLR had fallen 4.7% this year, as of last close

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))