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Silver Lake, Doray to merge

A merger of junior gold producers Silver Lake Resources and Doray Minerals is aiming to create a new Australian mid-tier miner.

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Silver Lake-Doray merger to combine Doray's Deflector and Silver Lake's Mount Monger in Western Australia

The two have announced they will merge via a scheme of arrangement under which Doray shareholders will receive 0.6772 Silver Lake shares for every one share held.