Silver Lake Resources

Silver Lake Resources will get profit a A$5.2 million funding injection to pursue its exploration and growth objectives following the off market sale of 17.4 million unlisted options by the company’s directors.The options will be converted at their exercise price of $0.30 each.Following the completion of the option sale and conversion, the issued capital of Silver Lake will comprise 223.7 million shares and no options.The directors and their related entities will retain 11.4% of the shares on issue.

Silver Lake Resources

Investor interest in Silver Lake Resources is due to the company delivering a string of bumper results recently, and just last week confirmed grades of up to 45% copper, 5.5 grams per tonne (g/t) of gold and 256g/t silver at the Hollandaire project, which lies within the Eelya complex, part of bigger Murchison project.

Importantly, these assay results confirm Hollandaire as a high grade copper deposit that also contains gold and silver. The mineralisation remains open in all directions and at depth.

The halt will last until the earlier of announcement being made to the market, or the opening of trade on Wednesday 16 November.