Silver Lake ups output and revenue
PERTH (miningweekly.com) – Junior gold miner Silver Lake Resources has reported an increase in revenue on the back of higher gold sales for the financial year ended June.
Gold sales reached 137 000 oz, at an average sales price of A$1 654/oz, compared with the 132 400 oz sold during 2016 at an average price of A$1 580/oz.
Revenue for the full year increased to A$227.5-million, compared with A$209.5-million in the 2016 financial year.
Silver Lake on Wednesday noted that net profit after tax for the financial year declined from A$4.4-million to A$2-million, while earnings before interest, taxes, depreciation and amortisation rose by 23%, to A$70-million.
“Silver Lake has delivered a strong set of financial results driven by a relentless focus on operating productivity and cash flow generation at Mount Monger,” said MD Luke Tonkin.
“Our investment in exploration has delivered tangible results and has allowed a transition to longer life mines being incorporated into the mine plan, with increased production visibility.”
Tonkin noted that 2018 would see the development of two low capital intensity operations at Cock-eyed Bob and Harry’s Hill, and a further A$11.8-million investment in exploration at the Mount Monger gold camp.
For the 2018 financial year, Silver Lake expects to produce between 135 000 oz and 145 000 oz of gold.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
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
