News: SLR St Barbara backs Genesis offer despite Silver Lake's higher $490 mln Leonara bid

May 4 (Reuters) - Australian gold miner St Barbara Ltd (SBM) , in a statement released on Thursday, said it had received a higher bid for its Western Australian Leonara assets from Silver Lake Resources (SLR) .

However, it maintained that it would continue to back a proposal from Genesis Minerals (GMD) .

On April 28, St Barbara received an unsolicited proposal from Silver Lake for the sale of Leonora for A$732 million ($489.78 million), it said. Genesis had bid A$600 million. ($1 = 1.4945 Australian dollars)