Silver Lake Resources shares gain 46.81% on gold price increase
Investors have taken notice as on 19 November 2013 production hit the
500,000 ounce milestone from its operations since the maiden gold pour
in April 2008.
Shares in the company are currently trading at $0.69, up from its close of $0.47 on 24 December 2013. Spot gold is currently trading at US$1,238 per ounce.
This reflects its sustained gold production profile with record production of 59,902 ounces produced and group sales totalling 60,910 ounces in the September 2013 quarter.
Silver Lake has processed 4.4 million ore tonnes at a blended grade of 3.8g/t gold from multiple underground and open pit feed sources at an average (blended) metallurgical recovery of 94%.
Production was sourced from the company’s three processing facilities, being Mount Monger/Lakewood (80%), Randalls (13%) and from the Murchison (7%).
Silver Lake's portfolio is extensive in Western Australia, and covers 5000 square kilometres of highly prospective under explored tenements containing gold, silver, copper and zinc.
The company's projects currently host: 6.4 million ounces of gold inclusive of 1.7 million ounces of reserve, 10.5 million ounces of silver and 134,000 tonnes of copper.
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