The Toronto mining company announced Jan. 28 that the court approved the bid at a hearing that day and has given the companies the authority to close the transaction, expected in mid-February.
Harte entered creditor protection on Dec. 7.
The company's only mining asset is the Sugar Zone Mine, north of White River. It entered commercial production in 2019.
Harte and a court-appointed monitor chose Silver Lake over another undisclosed bidder when the CCAA (Companies' Creditors Arrangement Act) sales process went to the auction stage to pick the successful bid.
Perth-headquartered Silver Lake came upon the scene in late 2021 as a 'stalking horse' bidder for cash-strapped Harte which had threatened closure by year's end.
The transaction involves US$74.5 million in credit, reflecting the value of loans Harte owes Silver Lake, along with $22 million out of the money hedge book and accounts associated with operating of the mine and the issuing of Silver Lakes shares at an estimated value of $28 million, with cash consideration of up to $3 million.