M&A Deal Summary

Metals X Acquires Silver Lake Resources - Comet Gold Project

On November 25, 2015, Metals X acquired metals/mining company Silver Lake Resources - Comet Gold Project from Silver Lake for 3M AUD

Acquisition Highlights
  • This is Metals X’s 3rd transaction in the Metals/Mining sector.
  • This is Metals X’s 0th largest (disclosed) transaction.
  • This is Metals X’s 3rd transaction in Australia.

M&A Deal Summary
Date 2015-11-25
Target Silver Lake Resources - Comet Gold Project
Sector Metals/Mining
Buyer(s) Metals X
Sellers(s) Silver Lake
Deal Type Divestiture
Deal Value 3M AUD

Target

Silver Lake Resources - Comet Gold Project

Australia
The Comet Gold Project covers an area of 50 square kilometres and includes the Comet, Comet North and Pinnacles Mines which includes the Lunar/Solar Prospects. Silver Lake has previously reported a total mineral resource estimate of 3.8 million tonnes at 2.9 g/t Au containing 353,000 ounces of gold (refer to Silver Lake’s 2015 Annual Report). Metals X’s initial focus will be on the Comet mine which it plans to develop as an underground operation consisting of a current total mineral resource estimate of 1.46 million tonnes at 4.8 g/t Au containing over 225,000 ounces.

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Buyer(S) 1

Buyer

Metals X

South Perth, Australia
Category Company
Founded 2004
Sector Metals/Mining
Employees175
Revenue 154M AUD (2023)
DESCRIPTION

Metals X is a diversified resource company exploring and developing metals and minerals in Australia. Metals X was founded in 2004 and is based in South Perth, Australia.

DEAL STATS #
Overall 3 of 3
Sector (Metals/Mining) 3 of 3
Type (Divestiture) 1 of 1
Country (Australia) 3 of 3
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-09 Central Tanami Project

Australia

The Central Tanami Project is an outstanding land package with significant resource base and infrastructure in place. In particular, the Groundrush ore system is large, high-grade with magnificent metrics for underground mining at high production rates and very competitive costs. There remains significant plant and infrastructure in place and a rapid re-start of operations is possible.

Buy -

Seller(S) 1

SELLER

Silver Lake

South Perth, Australia
Category Company
Sector Metals/Mining
Revenue 563M AUD (2020)
DESCRIPTION

Silver Lake is an all-Australian gold producing and exploration company operating in the Eastern Goldfields district of Western Australia. Silver Lake's land position in Western Australia covers highly prospective under explored tenements containing gold, silver and copper.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2015) 1 of 1
Mergr

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