Breaker launches strategic review as buyers circle Lake Roe

The Lake Roe gold project in Western Australia.

Breaker Resources has announced it will undertake a strategic review to fast-track the unlocking of value from the Lake Roe gold project in Western Australia.

The review will take place after Breaker received a number of “unsolicited enquiries” from corporate and other entities.

Lake Roe, which is 100 kilometres east of Kalgoorlie, is one of just three significant greenfield gold discoveries in WA in the past 15 years.

Breaker has not guaranteed a sale will eventuate from the review, but the current pre-feasibility study will be deferred to give the company time to assess the impact on development options.

The review will consider a range of potential partnering, funding and other asset options, focussing on shareholder value.

It also aims to lay foundations for a major step-up in drilling activities, to increase the current 1.0 million ounce resource, which is open in all directions.

Breaker executive chairperson Tom Sanders expects the review to gain interest from a wide range of parties.

“The strategic nature of the Lake Roe gold project, as well as the significant exploration upside potential across approximately 600 square kilometres of tenure is expected to drive interest from a range of parties during the review process,” Sanders said.

Breaker has appointed Azure Capital as its corporate adviser to assist with the review.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.