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Silver Lake increases output

20th January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Silver Lake Resources has reported record quarterly production for the three months to December, with the company producing 61 152 oz. The company has also increased its production guidance for the full year.

The December quarter's output compared with 59 902 oz produced in the three months to September.

The Mount Monger operation produced 47 929 oz in the quarter under review, while the Murchison operation delivered the remaining 13 224 oz.

Ore milled for the quarter reached 797 393 t, at a grade of 2.6 g/t, which compared to the 821 206 t of ore milled during the September quarter, at a lower grade of 2.4 g/t gold

For the quarter ended June, Silver Lake sold 62 265 oz at an average realised price of A$1 371/oz, for A$85.3-million in revenue.

Looking ahead, Silver Lake had increased its production guidance from its previous forecast of between 180 000 oz and 200 000 oz, to between 205 00 oz and 220 000 oz.

The Mount Monger operation was expected to deliver between 160 000 oz and 170 000 oz of gold for the full year, up from its previous expectation of between 120 000 oz and 130 000 oz.

At Murchison, Silver Lake expected production of between 60 000 oz and 70 000 oz, instead of the previously estimated 45 000 oz to 50 000 oz.

Edited by Creamer Media Reporter

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