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Silver Lake Resources In Trading Halt Pending Capital Raising And SPP

Gold miner Silver Lake Resources (ASX: SLR) has entered a trading halt pending a capital raising and a shareholder share purchase plan.

The trading halt will be lifted on or before Wednesday 28 August 2013.

Recently, Baker Steel Capital Managers reported it had been acquiring shares in Silver Lake, with a notice that it had acquired 19,775,500 shares over a period of time, equal to 5.2% of issued ordinary capital.

Recent purchases by Baker Steel were conducted between the 17th April 2013 and 1st August 2013, with the most recent purchase price made at around $0.80.

Silver Lake has a large gold resource base with significant upside, including 6.4Moz resource inclusive of 1.7Moz of reserves.

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