Silver Lake production continues decline
PERTH (miningweekly.com) – Gold production from ASX-listed Silver Lake Resources’ Western Australian continued to decline during the quarter ended December, as production was affected by a five-day shutdown.
Ore milled for the three months to December reached 297 168 t, recovering 29 109 oz of gold.
This was compared with the 29 531 oz of gold recovered during the September quarter, which was itself affected by the Murchison and Lakewood mills being placed on care and maintenance in July last year.
The Daisy Complex underground mine, which forms part of the greater Mount Monger operations, delivered 16 868 oz of gold during the quarter, while the Cock-eyed Bob underground mine delivered a further 4 161 oz of gold.
The Wombola Dam operation, which started in September last year, contributed 8 869 oz of gold during its first full quarter of production. Some 68 882 t of ore at Wombola Dam was stockpiled during the quarter, and would be processed in the March quarter.
The Murchison operations remained on care and maintenance during the quarter.
In October last year, Silver Lake entered into a binding agreement to lease the Murchison gold mill and its associated infrastructure for a period of ten months, starting in January. The lease was executed for A$7.9-million, payable in equal monthly payments.
Silver Lake told shareholders on Tuesday that 25 833 oz of gold was sold during the quarter ended December, at an average realised price of A$1 460/oz, generating a revenue of A$37.6-million.
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