- Despite challenging operational conditions in Western Australia, Silver Lake Resources (SLR) was able to meet the upper end of sales guidance
- The gold company produced 64,302 ounces of gold equivalent, with sales of 60,617 ounces of gold and 516 tonnes of copper for the fourth quarter
- Silver Lake invested $2.9 million in exploration during the quarter with a total FY21 investment of $19.5 million
- Silver Lake is down 9.35 per cent, trading at $1.60 per share at 12:03 pm AEST
Silver Lake Resources (SLR) has finished the 2021 financial year in a strong position.
The gold company is focused on mining projects in Western Australia.
Despite challenging operational conditions in Western Australia, the company was able to build on its track record of meeting the upper end of sales guidance.
Group production for the fourth quarter was 64,302 ounces of gold equivalent, with sales of 60,617 ounces of gold and 516 tonnes of copper.
During this quarter, operations were suspended at the Daisy Complex Mine after a fatality. Silver Lake again expresses its deepest sympathy to the worker’s family, friends and colleagues.
FY21 was a transformational year for the Deflector region with the successful construction and commissioning of the deflector carbon in pulp circuit and
the development and ramp-up of a secondary high-grade ore source at Rothsay.
Silver Lake invested $2.9 million in exploration during the quarter with a total FY21 investment of $19.5 million. Drilling during the quarter focused on mineral resource definition and extensions at underground mines.
The 2022 financial year is expected to further transform Deflector, with gold sales expected to be 10 to 20 per cent higher.
At the end of the quarter cash and bullion increased by $10 million to $330.2 million.
Silver Lake was down 9.35 per cent, trading at $1.60 per share at 12:03 pm AEST.