Silver Lake to snap up developer

SILVER Lake Resources has made a A$60 million scrip bid for Goldfields developer EganStreet Resources.

Silver Lake to snap up developer Silver Lake to snap up developer Silver Lake to snap up developer Silver Lake to snap up developer Silver Lake to snap up developer

Drilling at Rothsay, in WA's Murchison region

EganStreet shareholders will receive 0.27 of a Silver Lake share for every share held.

Based on yesterday's closing prices, the offer values EganStreet at 40c per share, a 28.