Silver Lake snaps up Red 5 stake as gold miners position for mergers

Silver Lake has put itself on a fresh collision course with Raleigh Finlayson’s Genesis Minerals by acquiring a strategic stake in a gold miner that many in the market expect will be one of Mr Finlayson’s future acquisition targets.

Silver Lake confirmed on Monday it had bought 11 per cent of Red 5 Limited, which operates the King of the Hills gold mine, about 35 kilometres north of the Gwalia gold mine that Genesis acquired in July.