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Silver Lake Resources Provides Quarterly Activities Report

21 Apr 2017  |  11:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

Silver Lake Resources provided quarterly activities report. The Company's cash and bullion continues to grow and ended the quarter at A$52.3m. The Company is well positioned for a Q4 and start to FY2018, with a corresponding improvement to both the cash and bullion, and AISC. Mine production from the open pits for the quarter totalled 203,983t at 2.3 g/t Au for 14,972oz. Mine production from Majestic Stage 1 was interrupted by inclement weather, delaying access to high grade ore blocks by 26 days. Ore stockpiles decreased during the quarter to 352,000t (containing 13,000oz). Ore stocks are expected to rise in Q4 FY2017 as ore production from available ore sources, particularly Majestic, exceeds milling capacity.

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