Silver Lakes achieves record gold sales
PERTH (miningweekly.com) - ASX-listed Silver Lake Resources has reported record gold sales for the three months to December, following its merger with fellow miner Integra Mining.
The A$426-million merger was concluded earlier this month, and saw Silver Lake handing over one of its own shares for every 6.28 Integra shares held to create a 200 000 oz/y company, with the aim of doubling production to 400 000 oz/y by 2014.
Silver Lake on Wednesday reported that gold sales for the three months under review reached 28 123 oz, with the interim sales totalling 52 410 oz.
Pro-forma quarterly gold production was reported at 45 303 oz for the three months to December, and 88 164 oz for the first half of the financial year.
At the Mount Monger operations, some 140 078 t of ore was mined during the quarter to produce 23 397 oz of gold. Gold-in-ore production from the underground and openpit mines totalled 58 393 oz during the six-month period.
At the Randalls operation, some 145 386 t of ore was mined during the three months, resulting in a gold production of 10 768 oz. In the six months until the end of December, 263 206 t of ore was mined, resulting in a gold production of 19 602 oz.
Meanwhile, Silver Lake reported that significant progress had been made on the construction and commissioning of the 1.2-million-ton-a-year processing facility at the Murchison gold project.
Wet commissioning of the mill, as well as other key componentry and the carbon-in-leach circuit would be completed by the end of January, with first gold pour targeted for mid-February, after allowing for a build-up of gold in circuit stocks, following the completion of wet commissioning.
Looking ahead, the company expected to produce and sell between 175 000 oz and 195 000 oz of attributable gold during the full year ending June.
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