Genesis Minerals Limited (GMD.AX)

Australia's Silver Lake revises offer for St Barbara's Leonora assets

The implied value of the proposal is A$718 million ($487.02 million), comprising A$370 million in cash and 327.1 million Silver Lake shares worth A$348 million. Taurus Mining Finance Fund No 2 LP has approved a $150 million credit facility for the acquisition and it is subject only to legal due diligence and execution of definitive documentation, Silver Lake said in a statement. St Barbara has rejected Silver Lake multiple times in favour of a A$600 million proposal from peer Genesis Minerals Ltd.