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Egan Street Resources has major shareholder increase stake

Silver Lake, who submitted an off-market takeover bid for Egan, has increased its stake to 18.56%.

EganStreet Resources Ltd - Egan Street Resources has major shareholder increase stake
Egan recently increased its gold Ore Reserve by 18%

Egan Street Resources Ltd (ASX:EGA) has had substantial shareholder Silver Lake Resources Ltd (ASX:SLR) increase its stake to 18.56% from 17.51%.

The increase represents an additional 1.35 million shares which were acquired by Silver Lake as a result of acceptances from the off-market takeover bid.

Egan’s most advanced project is its 100% owned Rothsay Gold Project in Western Australia.

In early August 2019, Egan updated the project’s Ore Reserve estimate by 18% to 235,000 ounces of gold grading 4.5 g/t.

The Ore Reserve is part of the 454,000-ounce JORC resource grading 9.2 g/t gold.

Quick facts: EganStreet Resources Ltd

Price: 0.295 AUD

ASX:EGA
Market: ASX
Market Cap: $41.19 m
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