Proactiveinvestors recommends
Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: SLR
Latest Price: A$2.55  (3.24% Ascending)
52-week High: A$3.87
52-week Low: A$1.61
Market Cap: A$561.67M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Silver Lake Resources
www.silverlakeresources.com.au

Silver Lake Resources (ASX: SLR) is a gold producing and exploration company with a resource base of 3.3 million ounces in highly prospective regions including the Mount Monger goldfield and the Murchison (Tuckabianna, Comet and Moyagee).

 

Silver Lake Resources' strategy is to develop large production centres at Mount Monger and at the Murchison with multiple mines at each centre. Silver Lake's exploration program is targeting 5 million ounces of gold in resource.

Full Silver Lake Resources profile here
Is SLR a Buy, Sell or Hold?Get your FREE analysis of SLR
Pdf

Silver Lake Resources top ten S&P/ASX 200 best performer in 2011

3rd Jan 2012, 1:33 am

Silver Lake Resources (ASX:SLR) has not been a top ten S&P/ASX 200 best share market performer of 2011 for no reason.

The company led by Les Davis and his team is poised to significantly boost gold production to 200,000 ounces by 2014 with planned changes afoot.

Mining from multiple underground and open pit ore sources will provide the bedrock for the expansion.

Production is currently being sourced from four independent underground mines accessed from the same infrastructure: Daisy Milano, Daisy East, Rosemary & Haoma. Open pit production is also being sourced from Wombola Dam.

Hard rock mine production from the Mount Monger Operations currently totals 60,000 ore tonnes per month for an annualised mined rate of over 700,000 tonnes per annum. 

Mined production is targeted to be 1 million tonnes per annum in 2014 from multiple underground and open pit ore sources.

Lakewood Gold Processing Facility

Stage 1 expansion Of the lakewood Gold Processing Facility to 700,000 tonnes per annum has been completed on time & on budget at $8 million.

A planned nine day shutdown to tie in the upgrade circuit has commenced and it is expected for the upgraded circuit to be commissioned and running at 700,000 tonnes per annum in January 2012.

Lakewood Gold Processing Facility – Stage 2 In Progress

Stage 2 of the upgrade from 700,000 tonnes per annum of hard rock to 1 million tonnes per annum of blended rock has commenced and involves the following scope of works:

- upgrade of current crushing circuit to 1mtpa
- expansion of the tailings storage facilities; and
- tie in of the current 640 kilowatt mill as a regrind mill

Budget estimate for the Stage 2 upgrade is $4.0 to $5.0 million and is expected to be completed in the September 2012 quarter.

Analysis

Silver Lake Resources - Top ten best stock of 2011

Just how good was Silver Lake Resources?  Well, try a gain of 38 per cent for 2011, against an S&P/ASX 200 Index that fell 13%.

There were not many better performances in the ASX 200 index than Silver Lake, in a tough year for stocks.

Proactive Investors said in June 2011, "Silver Lake, under Les Davis has continued to "tick all boxes" over the past 2-3 years.

"Recent pullback in market valuation with the market malaise provides an opportunity for investors to re-load on Silver Lake and benefit from its growing production profile.

Continuing consolidation within the gold sector could see investors benefitting as investors re-rate companies like Silver Lake."

Share price on June 21: $1.69

Share price high in 2011: $3.87

Share price today: $3.26

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.