As Canadian gold miner Harte Gold has committed various events of default under its US$65.6m credit facility, Silver Lake Resources will acquire the debt facilities with existing cash.
This appears to provide a pathway for Silver Lake Resources to acquire the Sugar Zone gold mine in Ontario, Canada, notes the analyst. The target price of $2.10 is unchanged. Outperform rated.
Sector: Materials.
Target price is $2.10.Current Price is $1.69. Difference: $0.41 – (brackets indicate current price is over target). If SLR meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
