Shares in Silver Lake Resources Limited (ASX:SLR) have risen in the first day of the new year’s trade after the company reported that its first half gold sales exceeded guidance.
The gold producer posted gold sales of 41,120 ounces for its Mount Monger Operations, coming in above guidance of between 35,000 to 40,000 ounces.
The company is targeting to boost production from Mount Monger to 200,000 per annum by 2014.
Silver Lake Resources was one of the S&P/ASX 200’s best performing stocks last year, rising 28 per cent over the 2011 calendar year.
Shares in Silver Lake Resources gained 2.33 per cent this morning and were trading at $3.08.
In the year ended on June 30, 2011 Silver Lake Resources posted a profit of $15.8 million.
