- Silver Lake Resources (SLR) has released its quarterly update for the period ended March 31 to the market
- The company reported producing 60,502 ounces gold and 411 tonnes of copper over the period and sold 60,740 of gold and 278 tonnes of copper at a gold sale price of $2,180 per ounce
- As a result of the steady quarter, the company has elected to maintain its gold sales guidance
- Silver Lake also pumped some $3.4 million into exploration activities during the quarter to bring its year to date exploration investment of $16.8 million.
- Silver Lake Resources shares closed the day up a slight 0.83 per cent to trade at $1.83
Silver Lake Resources (SLR) has released its quarterly update for the period ended March 31 to the market.
The company reported producing 60,502 ounces gold and 411 tonnes of copper over the period and sold 60,740 of gold and 278 tonnes of copper at a gold sale price of $2180 per ounce and all-in sustaining cost (AISC) of A$1452 per ounce.
It brings SLR’s year-to-date gold production to 180,330 ounces of gold and 1245 tonnes of copper.
The majority of gold production came from the company’s Mt Monger product, located in the Kalgoorlie terrane subdivision of the Eastern Goldfields Province.
All up, 36,469 ounces of gold was recovered from the project, with sales of 38,387 ounces at an AISC of A$1580 per ounce.
As a result of steady production, Silver Lake has elected to maintain its gold sales guidance for FY21 at 240,000 to 250,000 ounces gold with copper sales of 1600 tonnes at an AISC range of $1400 to $1500 per ounce.
Silver Lake also pumped some $3.4 million into exploration activities during the quarter to bring its year to date exploration investment of $16.8 million.
In terms of finances, the company reported an increase in cash and bullion of $5 million to $320.5 million at quarter end with gold in circuit and concentrate on hand increasing by $3.9 million to $11.3 million at quarter.
Silver Lake Resources shares closed the day up a slight 0.83 per cent to trade at $1.83.