Silver Lake reports stellar year
PERTH (miningweekly.com) – A 64% increase in gold production for the 2020 financial year has seen gold miner Silver Lake’s profits increase by 699%, compared with the previous financial year.
The ASX-listed company has reported a normalised profit after tax of A$133-million for the 12 months ended June, compared with the A$17-million reported at the end of the 2019 financial year.
Earnings before interest, taxes, depreciation and amortisation increased by 224%, from A$80-million to A$260-million, while statutory profit after tax increased by 3 852%, from A$7-million to A$257-million.
Gold production for the full year reached 273 071 oz, up from 166 695 oz, while gold sales for the year were also up by 54% on the previous financial year, from 171 322 oz to 263 362 oz, at a realised gold price of A$2 132/oz, up from the A$1 754/oz in 2019.
Silver Lake told shareholders on Wednesday that all-in sustaining costs (AISC) for the period under review were down 5%, from A$1 367/oz to A$1 295/oz, while capital expenditure for the full year reached A$106.5-million, up from the A$60.4-million spent in 2019.
For the 2021 financial year, Silver Lake is targeting sales of between 240 000 oz to 250 000 oz of gold, at an AISC of between A$1 400/oz and A$1 500/oz.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















